Due To CoVID-19, Many Indian Textile Orders Have Been Transferred To China
I. Current Situation of Indian Textile Industry:
India is the world's largest producer of cotton, the world's largest producer of jute and the world's second largest silk producer, with 22 per cent of the world's yarn capacity. The textile and apparel industry is one of the dominant market segments of the Indian economy and one of the country's largest sources of foreign exchange earnings. The textile sector accounts for about 15 per cent of India's total export revenues.
2. Covid-19 in India may surpass the US:
India, the world's second largest cumulative number of confirmed cases after the US, has 6.14m. Indian media had previously predicted that the total number of confirmed cases in India at the beginning of October would surpass that of the United States, making India the country with the largest number of confirmed cases in the world.
Iii. A large number of Orders from India are transferred to China:
According to field knowledge, since September, due to the epidemic, many large export-oriented textile enterprises in India have been unable to guarantee normal delivery, and many orders originally produced in India have been transferred to China, among which towels, bed sheets and other products have a large number of orders.
According to the prediction of several large factories, the current order quantity has been scheduled to May 2021.
Source: Dyeing and Finishing Encyclopedia