Home / Knowledge / News / Textiles / Long term future of textile & apparels industry is bright - GHCL
Long term future of textile & apparels industry is bright - GHCL
03
Dec '08
Mr Nikhil Sen, Head of Strategy and International Business, GHCL
Mr Nikhil Sen, Head of Strategy and International Business, GHCL
Impact of recession is quite visible on all the economies of the world. Countries, those were booming in the past few years are now badly disrupted because of global financial downturn.

It seems miseries of exporters have taken a never ending route. Last year, they were making losses because of rupee appreciation and now receding export orders from various markets have wiped out their hopes for goods.

Speaking exclusively to Fibre2fashion, Mr Nikhil Sen, Head of Strategy and International Business, GHCL said, “The US has always been a driving force of textile industry in the global market scenario, hence a downturn in the US market, has led to a slowdown in demand from US and European market. Industry has also seen a dip in revenue due to less export and increase in inventory costs. In the coming days this downturn will also make a dent on the consumer consumption and will raise pricing issues in the global market.”

To cope with the situation, few steps, if taken, could definitely have some positive effect on the industry. “Primarily our Government should take steps to stabilize the situation. Focus on domestic market as well as unorganized sector is also needed. Government should decrease the loan interest rate for export purpose and Subvention on export business”, Mr Sen opined.

Discussing the future of textile and apparel industry, Mr Sen stated, “The long term future of the textile and apparels industry is very bright. The textile industry in India is substantial and largely diversified and plays an important role in the terms of revenue generation in Indian economy. The significance of the textile industry is also due to its contribution in the industrial goods production and employment. Currently, this industry is the second largest employment provider after agriculture and provides employment to more than 30 million people.”

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 29th May 2017

Special package creates 7,50,000 jobs in garment sector

The special garment package of Rs 6,000 crore that was introduced by...

Textiles | On 29th May 2017

Tintex, Bruckner bring new effects to knitted fabric

The textile company Tintex has joined hands with the system supplier...

Courtesy: Brook Brothers

Apparel/Garments | On 29th May 2017

America's Brooks Brothers added to CLiQ

Tata CLiQ Luxury, Tata group’s multi-brand, luxury e-commerce...

Interviews View All

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search