Indian textile export industry affected due to Coronavirus outbreak in China

Coronavirus breakout has affected  Indian textile export industry  most among or affected industries in India. Indian industries have been facing impact of travel and export-import restrictions imposed due to outbreak of dely vel Coronavirus in China.

While interacting with a news ncy, K V Srinivasan, Chairman of Cotton Yarn textile exports promotion council said, "Coronavirus was unexpected. We are yet to judge full extent of problem as Chinese markets were closed for Chinese New Year. y were supposed to have h opened w during this week. latest information we got is that y have been asked to close for ar 10 days."

"We are also trying to understand full implication of coronavirus in industrial activity in China because people are saying that a lot of factories have closed down," Chairman ded.

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China is one of key markets for Indian textile industry, mainly for raw cotton and yarn. When it comes to Cotton Yarn, India's monthly export is around 90 million kg. 30 per cent of export mainly goes to People's Republic of China. KV Srinivasan also spoke about Indian textile exports being re-exported by China as finished goods to US. "With coronavirus scare affecting tre between US and China, India's export industry has also been affected," he said.

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ding furr to his statement, he also stated that forecast for textile export industry is 't very optimistic.' "If virus is going to affect industrial activity in China n definitely our textile exports will take a beating. However, in next two to three weeks, we will kw extent of impact and if it continues for a very long period n re will be a very big implication on Indian textile industry as we depend a lot on exports to China," Srinivasan said.

As per Chairman, in current scenario, scope of Indian textile industry getting more business from foreign countries is very high. 

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(With inputs from ANI)