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Production decline, losses hit silk industry value chain
22 Sep '20
1 min read
Pic: Shutterstock
The COVID-19 pandemic has resulted in a production decline and monetary loss at every stage of the value chain in the Indian silk industry, according to a government study, which found the silk industry has faced problems like loss in production, crash in cocoon and raw silk prices, transportation problems, non-availability of skilled workers, problems in selling raw silk and silk products, working capital and cash flow problems, non-availability of raw materials, reduction in demand for silk fabric, cancellation of export-import orders and export-import restrictions.
The government study, titled ‘Impact of Covid-19 pandemic on Indian silk industry’, assessed the crisis caused to the sector by the pandemic, an official release said.
As the textile sector is highly unorganised, the government has not made any formal assessment regarding the losses incurred, minister of textiles Smriti Irani told Lok Sabha recently in a written reply.
The government study, titled ‘Impact of Covid-19 pandemic on Indian silk industry’, assessed the crisis caused to the sector by the pandemic, an official release said.
As the textile sector is highly unorganised, the government has not made any formal assessment regarding the losses incurred, minister of textiles Smriti Irani told Lok Sabha recently in a written reply.
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