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Disagreement on number of job-losses in T&G sector
20
Mar '09
A few weeks back the textile and commerce ministry had projected that there was expected to be job losses to the tune of 500,000 by March 31, 2009, in the country's textile and garment industry, due to the ongoing global recessionary trends.

This estimate is half of the figures projected by the textile industry bodies, which has pegged the figure at 1 million. The country exports nearly 50 percent of its output from the sector, with US and EU, the most recession hit economies accounting for 60 percent of the total exports.

The other big reason for fall in exports from this labour intensive sector is the cost competitiveness of its neighbouring countries like Bangladesh, Vietnam and China, which are taking away orders from under India's nose on the strength of their pricing.

Most of the garment export units come under the unorganized sector, without any apparent benefits like retrenchment allowance to the workers, while more than 95 percent of spinning mills operate under the organised sector, but has not been affected too much till date.

Fibre2fashion News Desk - India


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