Yarn from Coimbatore and Dindigul mills have slowly become more expensive and this is bringing down the profit margins of small and large textile businesses in Karur and is adversely affecting the textile export industry.
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The increased number of Free Trade Agreements has increased export orders and hence created a recruitment demand in Vietnam. There has also been a demand for IT personnel from the country, thanks to outsourcing.
After reporting a net profit of about Rs 17.9 billion in Q4 last year, Alok Industries, a well-known textile firm, has reported in its regulatory filing a net loss of Rs 5 billion in the current Q4 ending on March 31st, 2021.
Recent research showed that face masks helped to curtail the COVID 19 spread in the US, when face mask mandate was in effect in different states, says Dr Seshadri Ramkumar, Professor, Texas Tech University.
The state government imposed a state-wide lockdown allowing only construction and manufacturing activities to take place. The KEA has requested for garment factories to function with COVID-19 measures and 50% attendance.
Fineotex Chemical, India’s leading textile chemical manufacturer, has registered a considerable growth year-on-year for both the Q4 results and the consolidated year-ending results for 2021, despite the pandemic.
The Bangladesh garment and textile exporters have been struggling with the second COVID wave and have requested the government to allocate a financial package to help them pay wages and festive allowances to workers.