Decline in the export causing job losses in Indian textile industryJune 6th, 2009 - 6:37 pm ICT by ANI
Bangalore, June 6 (ANI): A decline in export orders has adversely affected the textile industry in Bangalore.
Around 35 million people employed in the industry have been hit hard. A large number of people working at basic levels have lost their jobs.
“You can compare India to other suppliers of apparel like Sri Lanka, Bangladesh, China, Vietnam. Except for Bangladesh rest of the people have also suffered because fundamentally total inputs have come down. We must have suffered losses of 15-20 to 30 percent in some categories of export,” said Nanada Gopal K, textile industry expert.
Experts believe the high cost of production is also affecting exports.
“There are multiple factors, cost of production, raw material inputs the escalating cost. We are still looking at expensive labour, both skilled and unskilled. When it comes to all these things our deliveries don’t go on time and the work gets affected,” said Kapil Shorewala, exporter.
Market experts believe the textile industry will recover as soon as the market recovers.
However, some hope still prevails in the market, as the stock exchange has been stable after the coming of the new government at the centre.
The textile industry is one of the largest employment generators in the country. It also accounts for more than 30 percent of the total exports.
It is also one of the largest textile industry in the world second only to China. (ANI)
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