With a spike in the number of COVID-19 cases, Karur textile manufacturers and exporters association has announced a complete shutdown of the manufacturing units starting May19.
Month: May 2021
Prato, a Chinese community, located 11 miles north of Florence, has been the victim of coronavirus. Since the virus hit the community last year, it is believed that around 2,500 people, or 10% of the community has left.
According to US Census Bureau, exports from Cambodia to the US were $6.6 billion in 2020, which was 22.79% higher than that of last year. Q1 of this year saw total exports of $1.86 billion even amid stoppages.
Though plant sites are functional with a restricted occupancy level, 1QFY22 may not be a lost quarter, thanks to strong export markets, says Mahaveer Jain of India Ratings
Trident, a well-known textiles and paper maker, is planning to raise an amount of Rs 11 billion with NCDs and equity shares in the market.
Many states in India are experiencing total lockdown due to which the garment export sector is badly affected. The sector has recorded a loss of around $15 billion during the second wave of the coronavirus pandemic.
As per the data obtained from the MIIT, China’s textile industry has recorded good growth during the first quarter of 2021. The industry’s revenue increased by 20.3% this year.