Indian garment sector hopeful of staging comeback despite stiff competition abroad PTI
Coimbatore: With COVID-19 making the year 2020 a year of learning and turbulence, the textile and apparel sector is confident of achieving the much-needed growth in 2021.
The sector can make 2021 a year of progress by focusing on USA for apparels, as the textile industry had benefited from the volumes in the market in the first 10 months of 2020, Indian Texpreneurs Federation (ITF) convenor Prabhu Dhamodharan said Saturday.
“Now, it’s time to step up the efforts to repeat the same success in the US market for our apparel products,” he said.
With COVID-19 making the year 2020 a year of learning and turbulence, the textile and apparel sector is confident of achieving the much needed growth in 2021. The sector can make 2021 a year of progress by focusing on USA for apparels, as the textile industry had benefited from the volumes in the market in the first 10 months of 2020, Indian Texpreneurs Federation (ITF) convenor Prabhu Dhamodharan said on Saturday. Now, its time to step up the efforts to repeat the same success in the US market for our apparel products, he said. Vietnams Free Trade Agreement (FTA) with the European Union would intensify competition for India, and at the same time a level-playing field with top competing nations for the US market in terms of duty combined with quick economic recovery make a compelling case for Indian apparel sector for immediate growth, he said.
Garment exporters face yarn shortage, prices shoot up
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Garment exporters face yarn shortage, prices shoot up
Rajesh Chandramouli / TNN / Dec 24, 2020, 04:00 IST
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Chennai: A combination of factors US ban on Chinese cotton, a sudden surge in orders for garments, additional stocking up, increased exports to Tirupur’s competitors including Vietnam and Bangladesh have resulted in yarn shortage for garments exporters.
The situation is so grim for exporters that Tirupur Exporters Association (TEA) has pressed the SOS button alleging that mills were withholding yarn supplies impacting the export business. “The current decision of mills will certainly impact the garment units, exports will largely be affected and more number of workers will incur job losses,” TEA’s president Raja M Shanmugam wrote in the letter. “After the US imposed a ban on Chinese yarn, garment units from Vietnam and Bangladesh (competitors for Tirupur) have star