As the demand for women’s innerwear increased due to lockdowns, the sales in this department went up by 4 to 5 times. This growth was seen more in tier 2 and tier 3 cities.
Browsing: lockdowns
The textile and garment producers in Ludhiana are relieved with the easing of lockdowns but with the fluctuating rates of yarn, they are worried. Yarn is the biggest raw material in the industry.
For the entire financial year 2020-21, the GDP contracted 7.3 per cent  a record low. In January-March last year, the economy had grown 3 per cent.
In the recent years, India has emerged as one of the major players in the global home textiles market. Factors like traditional craftsmanship, local availability of raw materials, investments by companies in high-tech textile machinery, etc have helped India to become a preferred sourcing destination for home textiles.
Pakistan saw 3.4 times increase in textile exports in April 2021. This growth was due to the low base effect in April 2020 when the first wave of COVID-19 affected industrial activity across the globe and in Pakistan.
Between January 25 and march 10, 2021, ITMP has conducted the 7th ITMF Corona-Survey among ITMF members and affiliated companies and associations about the impact the Corona-pandemic has on the global textile value chain.
In 2020 alone, Asia Pacific accounted for 51 per cent of the global textile market, making it the largest region. India is the second-largest manufacturer and exporter of textile and clothing in the world, with a 5 per cent share of global trade.