Against the cotton yarn cartel, the government has decided to lower yarn prices than the red eye

Textile market

Union Textiles Minister Smriti Zubin Irani has turned a blind eye to the hoarding of a cartel-syndicate in cotton yarn and has directed the Textile Commissioner's Office to look into the matter. So the cracks in the cotton yarn are likely to melt. As a result, prices of gray cotton have started falling slightly in anticipation of falling cotton yarn prices. Even though corona lockdowns and restrictions across the country are now being lifted, traders from across the country still do not reach the textile markets of Surat, Ahmedabad or Mumbai to buy textiles. There is also interruption of incessant rains and money rush.

In a well-known composite of Ahmedabad with 50/30 15/2, 3 '' poplin and twins, the price of gray cloth of airjet looms is Rs. 8.30 is shown. Even if sold at a price of 70.50. Mill has sold Airjet Loom's Poplin 20/20 15/20 2 '' Gray in the price list for Rs. Airjet Loom's Poplin 50/50 116/30 2 "Gray prices range from Rs 5 to Rs 80.

Cotton Digital Printing Ready Process Male has sold 18/3 2 '' poplin at Rs.

20/20 Rayon 15 kg quality 4 "to 4" sheet ready printed work has been done for Rs. The price of Rs 100 reached Rs. Since the price of this grain is only Rs. 31, the profit margin is good for the mills.

The work-from-home system, which dates back to the Corona period, is well enough to trade in gray cloth. Printing, dyeing and designing require individual meetings. Mumbai has mastery in designing and Ahmedabad copies it later.

Ahmedabad's textile market shops remain open till 6 pm but new programs do not come specially as the country is closed. A stock of Rs 500 crore worth of textiles ready till March has fallen in the Ahmedabad market. New programs cannot be decided until this old stock is lightened.

The shops in Mumbai's textile markets can only be open till 2 pm with 90 per cent attendance. Consumers cannot reach the textile market as trains are still closed.

As many as 50 per cent weaving units are still closed in Surat as 70 per cent of the foreign workers have not returned. The shops of the textile markets are open till 6 pm but as the countrymen are closed, there is no special business yet.

Brighter opportunity for export

World trade in textiles and clothing fell by 4.5 per cent in 2020 due to global lockdowns and other restrictions during the Corona period. However, in 2020-21, India's growth in cotton textiles (exports of cotton, yarn, cotton and maid mills) increased to-11-12 billion from ૧૦ 10.8 billion a year earlier. The US alone accounted for 40 per cent of India's cotton textile exports and the rest for Bangladesh, China, Sri Lanka, the UAE and the UK.

India has benefited from the trade war between the USA and China. In September 2020, the United States imposed restrictions on the purchase of Chinese clothing by Mr Jinping. As a result, China's share of global apparel trade, which was 21 per cent in 2015, fell to 9 per cent in 2020. As a result, Western cotton purchases turned to India. Hence apparel of Tirupur, Noida, Bangalore .... has Dhoom export orders.

Manoj Katodia, chairman of The Cotton Textiles Export Promotion Council (Texprosis), said that Canada, UK and USA have seen the 8th recovery so far. So this is the ideal time for India when India, the EU. Negotiations for a free trade agreement with the UK and Canada should be expedited.

TaxProcess further said that a new industry of PPE shoots (body coversols) and N-3 masks has developed during the Corona period.