Federation Of Indian Industry And Commerce: Textile Machinery And Other Industries Are In A Downturn

The Federation of Indian industry and Commerce (FICCI) released a survey report on the 19th, which surveyed more than 300 large, medium and small manufacturing enterprises in India. The results showed that although the blockade has been lifted in many places, the automobile industry has been hit the most in terms of the continuous production and order situation of factories. In addition, leather and footwear, electronics, electrical and textile machinery industries are also in a downturn.

The agency also evaluates the production status of 12 manufacturing sectors, including automobiles, cement and ceramics, chemicals, fertilizers and pharmaceuticals, electronics and electronics, leather and footwear, medical devices and textiles. The results show that the overall capacity utilization rate of the manufacturing industry dropped to 61.5% from January to March this year. 90% of companies do not expect output to increase in the second quarter.

Only 22% of respondents plan to increase investment and expand production capacity in the next six months. 85% of respondents said they were unlikely to hire more labor in the next three months.

Respondents said the outlook for exports was weak, with only 8% expecting an increase in exports in the second quarter of this year.

Affected by the epidemic, many industries are also suffering from labor shortage. Textile and textile machinery industries can only recruit one-third of workers, and only about 35% of workers in automobiles, leather and footwear come to work in factories. These industries are facing serious labor shortage problems.