India'S Textile Industry Has Been Hit Hard And A Large Number Of Orders Have Been Cancelled And Transferred To Chinese Enterprises

Crisis in Indian textile industry

According to a recent report in Indian media, due to the fact that the government of India has not yet granted subsidies to the garment manufacturers association of India on time, the association said that if the subsidy is not received on time, it will directly lead to the layoffs of nearly 10 million people in the Indian textile industry. Previously, according to India's domestic forecast, the size of the textile and garment industry market will continue to expand to 10.32 trillion rubles, equivalent to RMB 891.1 billion.

Compared with the positive impact of the government's forecast, a news from trade unions almost shocked the whole world. As a result, a large number of orders from India could not be delivered to China. According to the news from China's textile industry, the current orders for garment manufacturing have been arranged to May next year. Behind the crisis in India, China's textile industry has become the only winner.

The current crisis in India's textile industry is believed to recur in other industries in the near future. The wrong epidemic management policy has laid many hidden dangers for the current development of India. As the problems continue to emerge, perhaps what India will lose in the future will not only be the orders of the textile industry, but also impact the entire industrial structure of India.