Textile in trouble

Govt must revisit the GM policy

Relentless spikes in prices of cotton in both international and domestic markets over the past few months have pushed the Indian textile sector into the doldrums. Many yarn producers, power looms, hosiery units, garment makers, and exporters have been forced to either suspend or freeze production, rendering thousands of workers jobless. The exports of garments and allied products, which had grown by nearly 70 per cent in FY22 to touch $40 billion, have come under strain, having been turned price-uncompetitive. According to the industry, many export orders, which had to be renegotiated in view of the changed cost calculations, have