Progress in textile exports to Bangladesh and Vietnam while India retreats

- Textile market

The global textile market is worth Rs. 5 lakh crore but India's share is very negligible. According to a report, Bangladesh accounts for 2.4 per cent of global textile exports, while India, which is about seven times larger than Bangladesh, accounts for only 5 per cent. China has a monopoly on the textile sector with a share of 3 to 4 per cent. Despite the difficult situation due to Kovid, the textile industry provides direct employment to 25 million people and indirect employment to 30 million people. During the Corona period, China's dominance in the textile sector was declining while smaller nations like Bangladesh and Vietnam flourished and made significant progress in textile and apparel exports, but India lags far behind them.

The US Senate recently passed a bill banning all products from China's Xinjiang province. It is worth mentioning here that Xinjiang province produces 90% of China's cotton.

Meanwhile, there is a lot of stockpiling in the textile market but the demand is very low. Production by Powerloom is completely shut down and only 30% of production is by Airjet Loom. Processors in Ahmedabad are closed three days a week while looms in Bhiwandi are closed for 3 to 4 days. The market in Ahmedabad is not very crowded.

At the local level, only 8 to 10 percent of households are found. Last year's Rs. 20,000 crore is due and the market is unlikely to survive until this amount is received. As for Bengal, everything has been ruined due to heavy rains and no one can say when the money will come.

The textile market today cannot afford to sell on credit to anyone. On the one hand there is no big demand and on the other hand no one comes more than the demand. Traders in readymade garments are preparing goods for the garment fair but the government is unlikely to approve due to renewed cases of corona abroad. If the third wave of Corona comes to Mumbai, the situation will get worse and if not, all will be well.

Currently running Lycra Shooting, Linen and Rayon ત્ર all run in Main Quality. The price of rayon fluctuates and 15 kg of goods are sold between Rs 30 and Rs 5 while 15 kg of goods are sold between Rs 5 and Rs 21. 20/30 12/108 Satin deals are priced at Rs. 50 while 20/20 15/108 poplin deals at Rs. Deals of 7th and 20/20 15/2 cotton Rs. Done in 3. Exports are good but goods are made and consumed on demand.

A large mill in Maharashtra costs Rs. 2.50 crore are trapped in a mill in Gujarat. For which a court action has been taken by the mill.

In Surat, there is no material in synthetic fabrics, there is no season above. Attendance is also low due to lack of work in the process house. Merchants are also annoyed by the lack of business. Although the Minister of Textiles has instructed to break the yarn cartel, no effect has been seen. Even the malls are not picking up the goods yet. Hence those who have made the goods cannot pay. Traders and consumers have also stopped coming to the textile markets in South Mumbai due to the closure of local trains. Merchants do not have the same business.

Traders are now hoping for a new homecoming at the festival starting next month. However, with the increase in corona cases in Maharashtra, there has been a flurry of re-lockdowns among traders, which has led many traders to go bankrupt.