Please fill in your details to download the Table of Contents of this report for free. We also do customization of these reports so you can write to us at email@example.com in case you need any other additional information.
"Starting March 2020, demand for the downstream products are at a near standstill amid lockdown across nations. With inventory pile-ups at the downstream level as well as expectations of a gradual pick-up in demand for apparels and home textiles, the pick-up in demand for yarn is also likely to be gradual and spread over several months," ICRA Research said in its latest report.
"The situation is likely to worsen, given the supply glut situation which is currently evolving in China, India’s largest export destination. As the lockdown in China was lifted from the beginning of April 2020 onwards, spinners there are scaling up operations even as demand from the downstream segments remains subdued amid weak domestic consumption demand as well as lack of demand in the export markets. As a result, there are reports of inventory pile-ups in China," said the report Impact Analysis: COVID-19 ties spinning sector in a knot.
Besides affecting direct demand from China, as it generally consumes 8- 10 per cent of India’s cotton yarn production, the supply glut there is likely to result in an increase in competition for India’s cotton yarn in the other overseas markets as well, the report said.
The size of India's domestic spinning sector is pegged at $15-17 billion, of which 75 per cent or $10-12 billion is accounted for by the cotton spinning sector, given India’s strong natural fibre base and the resultant competitiveness in the sector. Of the total cotton yarn manufactured by India, 70-75 per cent is consumed domestically, while the balance 25-30 per cent is exported to various countries, with China and Bangladesh together accounting for 50 per cent of India’s cotton yarn exports.
Fibre2Fashion News Desk (RKS)
| On 1st Dec 2020
UK clothing retail group Arcadia recently entered into administration ...
| On 1st Dec 2020
Fashion for Good, a global initiative to make all fashion good, has...
Snake, a Croatian platform that enables users to wear outfits in...
Ozone PB Spintex Limited
‘We have made huge investments to ensure quality yarn production.’
Transparent supply chain and fair trade will boost sustainable market
Fashion shows are also encouraging and highlighting sustainable fashion
Picanol develops, produces and markets high-tech weaving machines, based...
Farheen B Rahman & Priti Jain
Founded by business-designer duo <b>Priti Jain and Farheen Rahman</b>,...
With production sites in Klagenfurt and Kufstein, Zimmer Austria is a...
Thomas Ong P S
Malaysian company NanoTextile Sdn Bhd taps into the potentials of...
A team of engineers at the Vanderbilt University has designed a smart...
It was in 1968 that Klopman introduced the concept of poly/cotton workwear ...
Twee In One
Best known for convertible clothing, Indian brand Twee In One by designer...
Rupa Sood and Sharan Apparao
Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...
Gramin Vikas Evam Chetna Sansthan
Ruma Devi is a jet-setting promoter of artisans who has empowered...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.