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Textile demand may decline 25-35% in FY21 due to slowdown: Report

The demand of yarn, fabric and apparels is set to remain muted throughout first half of the financial year 2020-21

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Weak demand of value added products like yarn, fabric and apparel is bound to impact raw material prices

3 min read Last Updated : Jun 19 2020 | 11:23 AM IST

The demand of textile value chain, including yarn, fabric and apparels is likely to contract by 25-35 per cent in the financial year 2021 due to ongoing economic slowdown following lockdown to curb the spread of the Covid-19 pandemic, finds a study by India Ratings and Research.

The demand of yarn, fabric and apparels is set to remain muted throughout first half of the financial year 2020-21. The FY21 demand growth would typically depend on discretionary spending, and thus a gradual recovery in household income over the second half of the current financial year between October 2020 and March 2021.

Topics : Coronavirus Lockdown textile industry Economic slowdown apparel imports cotton yarn exports India's apparel exports India Ratings and Research

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