Interviews
Turkish textile sector on path of recovery
07 Jan '11
1 min read
The clothing and textile sector of Turkey, after experiencing the heat of the global recession and fierce competition extended by the producers in the Far Eastern countries, is now on the path of much awaited revival.
This is believed to be the best time for the industry in consideration of last five years' span, as on one hand, the sector has already secured enough orders for next six months and on the other, it is also successfully drawing back its old customers who earlier switched to the Far Eastern manufacturers.
An expert stated that, regardless of the rising cotton prices and high cost of stitching, the country's revenues from textiles are expected to rise considerably over the next three years. Also that, as the domestic market too recovered from effects of recession, this has also played a part in the revival of the home textile manufacturing.
Last five years had claimed around 2.5 lakh jobs in the textile industry, but then around two lakh workers have been reinstated by now and the sector still needs another one lakh workers.
The industry now employs 2.5 million workers, and bears a potential to earn $25 billion per year.
This is believed to be the best time for the industry in consideration of last five years' span, as on one hand, the sector has already secured enough orders for next six months and on the other, it is also successfully drawing back its old customers who earlier switched to the Far Eastern manufacturers.
An expert stated that, regardless of the rising cotton prices and high cost of stitching, the country's revenues from textiles are expected to rise considerably over the next three years. Also that, as the domestic market too recovered from effects of recession, this has also played a part in the revival of the home textile manufacturing.
Last five years had claimed around 2.5 lakh jobs in the textile industry, but then around two lakh workers have been reinstated by now and the sector still needs another one lakh workers.
The industry now employs 2.5 million workers, and bears a potential to earn $25 billion per year.
Fibre2fashion News Desk - India
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