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Trouble looms over Surat textile industry
22
Jul '10
Dearth in buyers adversely affects the textile industry in Surat, Gujarat. In addition, inflation has cut down on consumer's purchasing power, which has further affected several industries.

Although, last year was a fairly good year for Surat traders, this year the business has weakened. And the primary reason behind the weak business is the increasing prices, which is refraining the customers from buying products, informed a textile trader.

But with the festival season around, manufacturers in this textile centre are hoping for business to pick up, atleast in the latter half of the year. Currently, almost 30 million metres of raw fabric and 25 million metres of processed fabrics are daily produced in Surat.

Hence, on a daily-basis, Surat produces 30 million worth of fabrics. There are 7 lakh looms and 150 multi-storey markets, which comprise of 50,000 producing merchants, called traders. On an average, the daily transaction is in the range of 1-1.1 billion and the yearly transaction is of around 300-350 billion, informed industry experts.

India and other Asian nations are the key markets for Surat's textile goods. About 90 percent of polyester utilised in India is produced in Surat. The Middle East too is a key market for Surat's textiles goods.

Fibre2Fashion News Desk - India

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