Manufacturers are losing 3-4 percent of their profits as a result of increased input prices, and they are trying to ramp up production while workers are unable to return to facilities.
The second wave of the economic recession has had a significant impact on a variety of industries. After a three-month lockout, hosiery and knitwear businesses throughout the country are still battling to reopen. The major manufacturing centres of Tamil Nadu and West Bengal are unable to resume full output since there are still limitations on local travel for workers to return.
Manufacturers are now facing a 4% blow on these slim margins. India has also fallen behind competing markets as an export centre for big global brands such as Tommy Hilfiger, H&M, Marks & Spencer, Ralph Lauren, and others. Domestically, there is reason to be optimistic, as demand is likely to rebound depending on the severity of a possible third wave.
- In-Depth AnalysisDecember 16, 2021Cotton Yarn/Fabric Market Report – 16th December, 2021
- Industry And ClusterDecember 16, 2021CITI Elects New Office-Bearers for the year 2021-22
- News & InsightsDecember 16, 2021Global Smart Textiles Market Estimated to be Valued at US$ 6.6 Billion by 2026 | MarketsandMarkets™ Study
- ArticlesDecember 16, 2021Can Waste Wool Replace Bubble Wrap?