The second wave of COVID-19 in India has adversely affected the textile sector in Tamil Nadu, especially when the export demand was high. Further, the textile hubs of Tiruppur and Coimbatore are worst affected.
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ICIL will increase bed linen capacity by 20%, enhance capacity for Top of the Bed (TOB) products, and modernise its spinning units with compact spinning technology.
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.
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.
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.
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