| Global slowdown hits textile industry’s growth |
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| Written by Administrator | |||
| Monday, 26 September 2011 10:14 | |||
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New Delhi: All segments of the textile and clothing (T&C) industry — from cotton to polyester and jute — have registered de-growth since April this year as a consequence of the economic slowdown, the slump in export markets, high input prices and a dampening of consumer demand. According to a textile ministry official, all products of textiles including apparel have shown a decline in production in the months of April, May and June 2011 in comparison to same months of previous year. "Cotton segment of the T&C industry, which weights 50% in formulating the T&C production index, has nosedived in recent months after a moderation in growth since October 2010 when sudden surge in raw material costs had started crippling the downstream value chain," said Shishir Jaipuria, president, Confederation of Indian Textile Industry. Read more: click here.
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