The Long-Term Prospects For India'S Spinning And Clothing Industry Remain Bright.

The impact of the recession on all the world's economies is quite obvious.

Countries with high economic development in the past few years are now seriously damaged by the global financial downturn.

Now, the sorrow of India exporters seems endless.

Last year, the loss of the rupee was huge, and now many export orders were reduced, and their hopes were once again destroyed.

Mr Nikhil Sen, head of India strategy and international trade organization, told India media Fibre2fashion exclusive interview that in the global market structure, the United States has always been the driving force of the textile industry. Therefore, the US market downturn led to a reduction in demand in the US and Europe.

The textile industry is also decreasing as exports decline and inventory costs increase.

In the future, this downturn will also reduce consumer spending while expanding the price of the global market.

How to deal with this situation?

He said that if several measures were taken, the textile industry could have a significant effect.

First of all, the government should take measures to stabilize the situation.

Focus on the development of the domestic market, as well as scattered and unorganized enterprises.

The government should reduce the interest on export loans and provide subsidies for export businesses.

Mr Sen said that the long-term prospects for the textile and garment industry are very bright.

India's textile industry plays an important role in the total economic income of India. The textile industry is a solid and diversified industry.

The importance of the textile industry lies in its contribution to the production and employment rate of industrial products.

At present, the textile industry creates only 30 million of the employment opportunities after agriculture.

Yang Jing: editor in charge