Effect of Coronavirus Virus: Textile companies fear that there will be a washout in FY21

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Textile and garment units are slowly reopening in areas where they have been permitted, but the situation is not very encouraging. Companies such as Century Textiles, Gokaldas Exports, Filtex and several medium and small units in Karnataka, Ludhiana and Tiruppur regions have commenced operations at 25 per cent capacity.

RK Dalmia, president of Century Textiles and Industries, said, “When we start operations at our plant, the production of fabric or clothing will make no sense, as long as 90 percent of both domestic and foreign markets are open and Consumer demand should not come back. “

“We are eyeing Diwali as a possible opportunity to revive textile consumer demand. Dalmiya said that the financial year 2020-21 could be a good opportunity for textile players.