1. The US ban on textiles originating from the Xinjiang province of China.
2. The Indian market will get disturbed when cheap Chinese textile products enter to our market.
3. Indian cotton has been least expensive until September 2021, when Indian in addition to international cotton costs began rising.
4. Lalit Mahajan, senior VP at Welspun India, told: “Most of the mills have either shut down or have gone for making substitute fibers like viscose, polyester, etc
5. A fall in garment imports by Europe and the US because of recessionary pressures, has already lowered the demand for Indian yarn.
Indian cotton yarn was always competitive in the world. Now, Chinese cotton yarn has started coming into India due to the issues related to Xinjiang province, speculation on cotton prices in the Indian market, and a delay in the removal of import duty on cotton,” stated Ok Selvaraju, secretary normal of the South Indian Mills Association.
Source: Economic Times
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