Several factors like labour unrest, electricity crisis and ambiguous government policies have caused around 50 percent of the textile factories in the Bara-Parsa Industrial Corridor to shut down, and over 50,000 workers have lost their jobs.
There are around 300 textile factories of different sizes in the country, of which only 100 are functional right now. Of these 100 factories which are operating currently, 50 are located in the industrial corridor.
Annapurna Textiles, which was supposed to be the second largest textile firm in the Bara-Parsa corridor, next to Hetauda Textiles, ceased its operations some 10 years back. While other leading textile firms like Ashok, Ganapati, Star, Himgiri, Tirupati, and Ganesh too trailed on the lines of Annapurna and had been shut down in the past few years.
Textile industrialists have for long been asking for tax concessions and customs duty concessions on yarn imports to revive the fading textile industry. Also, they have been urging for withdrawal of VAT with respect to the textiles in a bid to secure the sum of Rs 10 billion, which flowed in the industry by way of investment along the Bara-Parsa corridor.
The textile sector of the country has also been hit by the illegal importation of low-cost Chinese textiles from Khasa border and smuggling of textile items.
Fibre2fashion News Desk - India
20240830145952.gif)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
