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)..
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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 onus for fall in the last three years could be attributed to demonetisation and the implementation of GST which have disrupted market sentiment and overall growth and the market has not yet recovered from their effects.
Followed by a successful edition and growing demand of screen printing in various application areas in the Indian market, Messe Frankfurt Trade Fairs India announces its 15th edition scheduled from 24 – 26 April 2020.
Hon’ble Minister of Textiles, Smriti Zubin Irani launched the Indian Size Project in collaboration with CMAI recently at a function held in Mumbai.