Small and marginal firms
About eightieth of the Indian textile business is little, marginal and industry. About 3,700 firms area unit within the Association of consumer goods makers Association of India (CMAI) with seven 100000 staff. during this state of affairs, three700 firms have declared that they're troubled concerning what the market can seem like within the next 3 to six months.
CMAI Presidentsaid, "We area unit predicting that a minimum of ONE CRORE integer folks within the entire textile business can lose their jobs if the govt doesn't offer them a wage grant or market recovery."
The biggest drawback
Also, if the industry is paralytic, there's a risk that the whole market, like textile makers and textile makers, can collapse. one in all the foremost vital things the govt has to do now's to confirm that foreign firms don't cancel orders issued to Indian textile firms. The CMAI has demanded that the issues be treated though this can be done.
A survey by CMAI of 1500 firms in India found that concerning twenty per cent of firms commit to shut their business if they are doing not heat up once the Lockdown amount. Similarly, sixty % of firms report that concerning forty %of financial gain is affected
China has currently came to normalcy once being nearly ejected from the impact on Corona. Food and different producing and services trade is sick quickly within the Chinese market. however the TEXTILE industry continues to be down concerning fifty nine%