The New Crown Virus Benefits The Textile And Garment Industry Outside China.

After the outbreak of the new crown virus, the transfer of international purchase orders to China may indicate that India's subcontinent, especially India, will benefit from it, and the market's demand for India cotton will grow.

The outbreak of the new coronavirus has aroused great concern in the global financial market. Chinese brand shares fell 9%, while the Italy brand is expected to fall by 1.8% in the first half of 2020. Several high-end brands in Italy have closed their Chinese stores, triggering fears that the industry will lose a lot of sales if the virus is not quickly curbed. Carlo Capasa, President of Italy Fashion Association CNMI, is worried that the outbreak of the virus could lead to 1.8% loss in the first six months of the year. As a precautionary measure, Ralph Lauren of Italy closed half of its 110 stores in China, while Tiffany (Tiffany) closed 70 stores in 240 stores under the government order.

Turkey is the most desirable and profitable market.

Because people can no longer leave home, the outbreak of virus has stopped the clothing production in several provinces of China. This is pushing them to find alternative markets for apapreis. An emerging market is known to all that Turkey is one of the most desirable and profitable markets, because its quality is impeccable, fast and inexpensive. Most brands and chain stores are expected to move their businesses to Turkey soon.

Orders from China to Bangladesh for aid to industry

India's subcontinent, including Bangladesh, India, Pakistan and Indonesia, is likely to enjoy rapid growth due to increased demand for raw materials. In particular, Bangladesh will probably benefit from the fact that China's immediate orders may be transferred to the country. However, the country needs to quickly back up its alternative resources to predict potential demand. Some upcoming exhibitions may also be transferred to Bangladesh to attract foreign tourists to the country. This may open up future business opportunities for the country.

The gospel of India industry

A positive aspect is that the virus is proving to be the gospel of India's industry because it will enable India exporters to target markets previously dominated by Chinese exporters. If China fails to resume production within 30 days, its main customers in Vietnam, Kampuchea, Thailand, Korea and the EU may turn to India to buy products, clothing and fabrics. As the fourth annual fashion report of "fashion business" and McKinsey, India's clothing market is expected to reach US $53 billion 700 million in 2020, making it the sixth largest apparel market in the world.

This surge will also make India's textile industry more prosperous. The country's cotton stocks are expected to account for 16% of the world's total inventory in the current quarter. Last year, India exported 800 thousand to 900 thousand bales of cotton to China. In the first four months of the cotton year (October to January), 600 thousand to 7 million packages were shipped to China, and 300 thousand packages were expected to be exported soon.

At present, India exports $2.23 billion leather tannery and dyed extracts to the global market. If China's exports of these commodities are affected, India's industry may fill this gap and look profitable. However, it will take some time for India to match its China counters, because India traders do not have the same type of self-discipline, liquidity, scale and scope provided by China.