Home / Knowledge / News / Textiles / Long term future of textile & apparels industry is bright - GHCL

Long term future of textile & apparels industry is bright - GHCL

03
Dec '08
Mr Nikhil Sen, Head of Strategy and International Business, GHCL
Impact of recession is quite visible on all the economies of the world. Countries, those were booming in the past few years are now badly disrupted because of global financial downturn.

It seems miseries of exporters have taken a never ending route. Last year, they were making losses because of rupee appreciation and now receding export orders from various markets have wiped out their hopes for goods.

Speaking exclusively to Fibre2fashion, Mr Nikhil Sen, Head of Strategy and International Business, GHCL said, “The US has always been a driving force of textile industry in the global market scenario, hence a downturn in the US market, has led to a slowdown in demand from US and European market. Industry has also seen a dip in revenue due to less export and increase in inventory costs. In the coming days this downturn will also make a dent on the consumer consumption and will raise pricing issues in the global market.”

To cope with the situation, few steps, if taken, could definitely have some positive effect on the industry. “Primarily our Government should take steps to stabilize the situation. Focus on domestic market as well as unorganized sector is also needed. Government should decrease the loan interest rate for export purpose and Subvention on export business”, Mr Sen opined.

Discussing the future of textile and apparel industry, Mr Sen stated, “The long term future of the textile and apparels industry is very bright. The textile industry in India is substantial and largely diversified and plays an important role in the terms of revenue generation in Indian economy. The significance of the textile industry is also due to its contribution in the industrial goods production and employment. Currently, this industry is the second largest employment provider after agriculture and provides employment to more than 30 million people.”

Fibre2fashion News Desk - India


Interviews View All

Varinder Singh Jawanda, Trendy Bharat

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Footwear industry, Head honchos

Footwear industry
Head honchos

There is rising demand for fancy, trendy and yet comfortable footwear

Top executives, Textile industry

Top executives
Textile industry

Sri Lanka has a good sustainable track record and strong stories to back it

Kamal Kulshreshth,

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Farheen B Rahman & Priti Jain,

Farheen B Rahman & Priti Jain

Founded by business-designer duo <b>Priti Jain and Farheen Rahman</b>,...

Mario Ploner,

Mario Ploner

<div>Italian company Tecnomeccanica Biellese specialises in planning and...

Davide Vigano, Sensoria

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Kevin Nelson, TissueGen

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search