'Expect protectionist measures from developed economies' – Mr Nair, CITI

14 May '09

2 min read

The textile and clothing sector has received a battering since the last few months due to the impact of recessionary trends prevailing in global markets. Companies are either cutting down production or are shutting down units, which is leading to an increase in unemployment levels.

To add to this a few countries across the globe have put in protectionist measures against import of textiles and clothing into their country, which is adding to the troubles of the exporting community.

Mr DK Nair, Secretary General of Confederation of Indian Textile Industry (CITI), while speaking to Fibre2fashion said, “While protectionist tendencies are increasingly being visible in global markets, especially in developed countries such as the US and EU, not many textile specific measures have been taken by the developed countries at least so far”

He continued by saying, “Developing countries who are competing with us in the global markets have been resorting to increased protectionist measures specifically for textile items, especially after the impact of the global slow down has become apparent”.

Mr. Nair showed his concern regarding yarn exports as it is already facing protectionist action in Turkey, Peru and Egypt and this is likely to spread to more markets and more products in the coming months.

“With increased concern on job retention in the US and other developed countries, protectionist actions against imported textile products may also come up in such markets in the coming months”, warned Mr. Nair.

Fibre2fashion News Desk - India

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