There could be as many as one crore job cuts in the textiles sector, which has been severely hit by the ongoing lockdown, if there is no support and revival package from the government, according to apparel industry body Clothing Manufacturers Association of India (CMAI)..
Browsing: Clothing Manufacturers Association of India
While the Covid-19 pandemic has completely halted production and new orders, exporters say that payments have also been delayed for the shipments sent before the lockdown.
The Indian apparel industry could take a hit of almost Rs 1 lakh crore due to the lockdown to contain the Covid-19 outbreak and a significant slowdown is expected in economic growth once the lockdown ends, according to a survey by CMAI.
The textile industry is keeping its fingers crossed over the emerging threat of coronavirus in the months to come.
The textile industry is keeping its fingers crossed over the emerging threat of coronavirus in the months to come.
The textile industry is keeping its fingers crossed over the emerging threat of coronavirus in the months to come.
Textile industry has something to cherish in the Budget with the abolition of ADD on PTA imports, prioritisation of technical textiles sector, review of rules of origin in FTAs to curb imports from Bangladesh, and RoDTEP, NIRVIK and other measures taken.