Thanks to the demonetisation, the Indian textile and apparel industry has lost 30-40 per cent of business. Apparel sale in domestic markets had stopped in the initial days and recovered gradually. Consumers continue to face liquidity tightness, resulting in deferring of purchase.
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Textiles in the first six months grew at an average of 1.4 per cent and in the last six months of the FY, it accelerated at an average rate of 3.4 per cent.
A lot of thrust has been given to Government?s ?Make in India? initiative, said RD Udeshi, President – Polyester Chain, Reliance Industries Limited, in keynote address. This was the theme of international textile conference, held by the Textile Association (India), Mumbai Unit on December 1-2, 2016 at Hotel The Lalit, Mumbai.
Surat-based textile manufacturer, Laxmipati Sarees, Siddhi Vinayak Knots & Prints Pvt Ltd is one of the leading manufacturers in polyester saree and women dress material in India. Sanjay Sarawagi (Director) places great value on high-quality products.
Technological upgradation fund scheme (TUFS) was launched in 1999 with the objective of providing credit and capital subsidy to textile and clothing industries to modernise the textile units. This was given to help in enhancing the labour and capital productivity and enhance production of high quality products.
Cash crunch is very much the talk of the town today! Though demonetisation is a bold decision taken by the Government, it has left a sudden jerk in the entire textile chain. Textile retailers faced the immediate impact and other intermediaries in the value chain are facing it now with a lag of a few weeks with reduced orders due to slower offtake.
Cash crunch is very much the talk of the town today! Though demonetisation is a bold decision taken by the Government, it has left a sudden jerk in the entire textile chain. Textile retailers faced the immediate impact and other intermediaries in the value chain are facing it now with a lag of a few weeks with reduced orders due to slower offtake.