The Epidemic Has Led To Heavy Layoffs In India'S Textile Industry.
The India Apparel Manufacturers Association (CMAI) said that if there were no government support, the textile industry could lay off 10 million people. It means that wage subsidies and other interventions must be adopted, otherwise there will be huge job losses.
More than 80% of India's clothing industry is small and micro enterprises, of which CMAI has about 3700 members, employing over 700 thousand people, and most members simply can not carry the epidemic for 3-6 months. Without government assistance, whether in terms of wage subsidies or in the resumption of work, it may lead to a reduction in the number of jobs in the entire textile chain, or 10 million people.
CMAI has conducted a survey among its members and analysed about 1500 replies, of which nearly 20% are considering closing the business after the blockade. At least 60% of them expect income to drop to 40%, which is huge if employed.
Modi, Prime Minister of India, announced in April 14th that the national blockade, which was scheduled to end on that day, will be extended to May 3rd. Some of the non epidemic hot spots may be eased slightly after April 20th.
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