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Stitching together perfect recovery strategies
Outbreak of COVID 19 has caused catastrophic global economic downturn not seen any time during The Indian Textile Journal’s 131 years of existence. Factories had to remain closed for several days due to government’s lockdown orders and when allowed to reopen, they are running at just 30-40 per cent capacity due to lack of demand.
Industry on ‘wait-n-watch’ mode
The textile industry is keeping its fingers crossed over the emerging threat of coronavirus in the months to come.
7.6% GDP predicted
India's economy is projected to grow 7.6 per cent in fiscal year 2018-19, remaining the fastest growing economy in the world, as robust private consumption and benefits from past reforms help the country's GDP gain momentum, according to a UN report
New investments towards value addition
Potential for shuttleless weaving machines is still enormous to reach an equilibrium with the excess spinning capacity, feels Navdeep Singh Sodhi.
Indian textile industry: The next decade
Textiles is India´s foremost manufacturing industry and has a significant impact on the economy since it contributes to industrial output, employment generation and the export earnings of the country. With contribution of about 14 per cent to the industrial production, 4 per cent to the GDP and 13 per cent to the country´s total export earnings, the industry provide direct employment to over 45 million people.
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