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News section > Textile

'Textile and auto parts industries hardest hit, in worse condition’

2020-06-12 Editor:Super administratorSource:Original

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Minna Zutshi

Tribune News Service

Ludhiana, June 11


Ajit Lakra, MD of Superfine Knitters Ltd that is engaged in manufacturing of knitted fabric and garments, says the Covid-19 impacted their business badly.

“Our business is a seasonal business. When the lockdown started in March, we had huge quantities of summer-ready goods lying with us to be dispatched to our customers before March 31 or latest by April 15,” he says. “Unfortunately, all the customers cancelled or put on hold all summer goods,” Lakra added. Lakra is also the Textile Division Head of the Federation of Industrial and Commercial Organisation (FICO).

How is the micro, small and medium enterprises (MSME) sector doing in Unlock 1.0?

It is slightly different in different segments. Like bicycle and bicycle parts are doing comparatively better but our textile sector is not doing well.

How is the problem of labour shortage being tackled?

There is an acute shortage of labour in Ludhiana which is being felt by those segments that have some business in hand. In textile, we have about 25 per cent orders and about same percentage of labour availability. Labour is likely to return after June. 'Needy' industries are calling their labour and requesting the government to bring them back like they sent them.

What are the major problems as of now?

A major problem is the drastic drop in demand in the market. If the retail sales do not pick up anytime soon, the manufacturing sector cannot pick up to optimum and viable levels. Some fixed expenses and bank interest etc will not 'stop', thereby plunging many units into serious financial stress despite six-month deferment up to August 2020.

How do you visualise business in these times?

The business is limping back. The textile and auto parts industries are hardest hit and are in worse condition.

Covid-19 pandemic is not over yet and there is an economic slump. Your comment.

Unprecedented slump. Garment purchase is not a priority for the citizens, especially for one year till the pandemic ends. After about two years when the agreement of duty-free import of MMF garments from Bangladesh ends and some positive effect and opportunities arising out of anti-China sentiment the world over and with some major import policy changes in India, there can be ushered in a big boom in the textile industry of India.

Any other observation you'd like to share?

Although both the state government and the Centre have done some policy changes, still a lot more needs to be done.

This article has been taken from tribuneindia.com

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