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Textile sector to recover to pre-COVID levels by FY2022
ICRA, a leading rating agency, said that the textile industry’s performance will go back to pre-COVID levels in the next fiscal year owing to increase in demands from the domestic as well as export markets.
India’s textile & apparel industry
The global apparel demand is expected to boost at a steady CAGR of 5 per cent to grow from the current $1.9 trillion to reach $2.6 trillion by 2025.
Building a new-age textile industry
In future, China’s share is expected to further reduce because of gradual shift of global buyers from there due to rising manufacturing costs in China and availability of other lower cost destinations in other region.
US imports jump amid tariff threats
Trade war or not, US apparel and textile imports from China surged 22.2 per cent in February to 2.54 billion square meters equivalent (SME) compared to a year earlier
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