Coronavirus benefits and downsides garment industry simultaneously
Coronavirus benefits and downsides garment industry simultaneously
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The country's garment industry has seen both advantages and disadvantages since China's coronavirus hit. Along with this, there is a lot of concern in the garment sector due to this mixed effect. Entrepreneurs say that in view of the crisis in China, the trend of foreign buyers has shifted towards India, which is good for the sector. But the cost of domestic companies in fulfilling their orders has increased.

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It is because raw materials like dyeing chemicals are imported from China in the garment and textile industry, and their supply is completely closed at this time. Their current stock in the country is becoming expensive, while the rate of dyeing chemical has increased by 20 to 25 percent. Production costs have started increasing. Along with this, experts say that all the foreign buyers who are ordering Indian companies right now are based on their immediate needs, while these types of orders are coming with the most readymade garments. A large number of foreign buyers are still awaiting the situation in China. After that, his order will start to be received by China again. He is feeling that the situation will be there in two to three months.

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Along with this, Anil Jain, Vice President, Textile Manufacturing Association, said that the retail business is coming down due to the Coronavirus crisis. Only immediate orders are being given by foreign buyers. The chances of far-reaching benefits to industries are seen to be very low. The retail market is also having a negative impact on the coronavirus. In the last few days, the movement of people into malls or markets has reduced considerably. The most visible effect is on the purchase of the garment.

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