Gujarat’s Desperate Times for Textile Trade
The Russia-Ukraine war has led to a grim situation in the textile industry, especially Surat, the largest textile cluster in the country. The sudden reduction in demand has adversely affected around 5,000 of the city’s small traders who find it difficult to even renew their rent agreements for business.
As per sources, Dr Ashwin Thakkar, Head, Vice-president, Textile Association of India (Ahmedabad) notes that the pandemic has changed the costing pattern of the industry and adds, “Consumers are spending more on lifestyle goods like healthcare and travel which has suppressed textile demand”, elaborating on the demand crush of the textile industry.
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