On average, companies are expecting their turnover to plummet by -32 per cent. The range between regions differs with from -22 per cent in South East Asia to -36 per cent in East Asia.
Browsing: textile exports
On average, companies are expecting their turnover to plummet by -32 per cent. The range between regions differs with from -22 per cent in South East Asia to -36 per cent in East Asia.
Sectors already identified by the Department of Promotion for Industry and Internal Trade (DPIIT) in consultation with other ministries include capital goods and machinery, mobile and electronics, gems and jewellery, pharmaceuticals, textiles and garments.
Vietnam’s textile and apparel export turnover in 2020 is expected to reduce by a fifth compared to 2019 figures, according to the Vietnam National Textile and Garment Group (Vinatex), which feels the demand will recover from the third quarter.
Pham Xuan Hong, president of Ho Chi Minh City’s textile association, recently urged Vietnam’s textile industry to source raw materials from Malaysia and India while the coronavirus storm gets over in China.
FTAs with Australia, Canada, the United Kingdom and EU will help boost India’s textile exports, according to AEPC, whose chairman A Sakthivel recently said the government should pursue FTAs with these countries as they hold tremendous potential for India’s exports.
UKFT’s latest figures show that value of UK fashion and textile exports have reached almost Euro 10 billion representing an increase of 66 per cent in a decade.