NineT2 is a manufacturer of T-shirts and Face Masks situated out of Mumbai with a huge 45,000 square feet manufacturing unit. The products are sold under…
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The recent decision of the Union Government of India to remove import duty on cotton may help in putting brakes on rising cotton prices. Elevated cotton…
The $15 billion garment export sector faced a big blow as many states in India announced lockdown and restrictions on industries due to the Covid-19 pandemic.
Manufacturers in the garment industry fear the problem of dead inventory due to order cancellations and contemplate the reduction of workforce. More than 20% believe the industry will begin to recover only in 2022.
The Clothing Manufacturers Association (CMAI) of India has urged the Centre to reduce GST on all readymade garments to 5 per cent from 12 per cent and retain the same on all types of cotton yarn, synthetic yarn, fabrics and made-ups.
Indian apparel businesses could face up to 40 per cent loss of revenue and many smaller players are contemplating closure.
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)..