India Ratings and Research (Ind-Ra) has revised the textile sector outlook to improving for FY22 from negative, reflecting the likelihood of higher revenues and operating margins, post business disruptions led by COVID-19 in FY21.
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India Ratings and Research (Ind-Ra) has revised the textile sector outlook to improving for FY22 from negative, reflecting the likelihood of higher revenues and operating margins, post business disruptions led by COVID-19 in FY21.
Exploring new markets, digitisation, state of the art infrastructure and boost in R&D can reposition India as a leader in the global textile industry.
The Indian Textile Journal hosted “Textile Business E-Conference†on 17th February 2021 with an aim to provide a platform to all stakeholders to exchange ideas, collaborate and draw the roadmap for the future.
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.
The Ind-Ra report highlights the trends in the sub-segments of the textile sector, including cotton, man-made fibres (MMF), yarns and fabric with a focus on commodity prices, imports/exports, production and recent rating actions.
Except spinning, majority of the textile and apparel machinery demand of India is being fulfilled through imports, especially for investments in latest technology machines by large/organised mills.