KOLKATA – India’s textile industry is braced for a turbulent period as exports and imports are compromised due to ongoing concerns over the spread of coronavirus.
According to the Clothing Manufacturers Association of India (CMIA), the country’s cotton exports are set to curtail as business in China grinds to a halt for the foreseeable future.
Though it’s feared India may lose access to a portion of the estimated US$460 million worth of synthetic material it imports from China each year, the CMIA believes India is primed to capitalise on European custom as companies transition their sourcing strategies in-light of the situation.
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