• This situation has become extremely grim & unless urgent steps are taken, the sector which is the second largest employment provider after agriculture and has the potential to generate additional employment is facing the serious threat of lay offs / loss of existing jobs on account of idling capacity.
• In fact a recent study has shown that the unprecedented appreciation of the Rupee will lead not only to a decline in exports but also will lead to loss of around 5.79 lakh potential new jobs – the loss in direct employment in the textiles & clothing industry being 2.72 lakh jobs and that in indirect jobs 3.07 lakh.
• The issue is no more about profitability but of survival of a large number of skilled and unskilled workers, comprising women & others from the economically weaker sections of society.
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The Cotton Textile Export Promotion Council
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