Market situation for textiles slowly recovering: Texpreneurs

Low-end goods, essential goods and value-for-money goods in the textile sector are moving well in the COVID-19 situation but fashionable apparels that depended on showrooms are yet to make a recovery, Indian Texpreneurs Federation (ITF) said on Friday.

Low-end goods, essential goods and value-for-money goods in the textile sector are moving well in the COVID-19 situation but fashionable apparels that depended on showrooms are yet to make a recovery, Indian Texpreneurs Federation (ITF) said on Friday. The export orders are on a medium performance-level now but the order-enquiry for the next quarter is good, ITF convenor Prabhu Damodharan told reporters at a virtual press conference here.

On the whole, the market situation of textiles is slowly and gradually recovering, even as the impact of COVID-19 is massive and the recovery would be gradual, he said. The federation has advised and cautioned its members to scale-up production only after analysing the demand, he said.

There was a good opportunity for Indian textile products to enter Japan market in the near future and ITF has spoken to its members and 51 have expressed interest to make products for this promising market, he said. After analysing the clothing and textile requirements of Japan, Indian textiles manufacturers would enter the market, he said.

Stating that the MSME financial package from the Centre had been helpful in increasing liquidity, Damodharan said people with the eligibility criteria had easy access to get this package benefits. When asked about the progress of ITFs 'India for Sure,' a project that pitches India as an ethical partner for sourcing fashion goods with Tamil Nadu textile sector as the base, he said data has been collected from 140 companies and in another few days 100 more would be collected.