Related Keywords: due to surge in cost of production, fluctuations in cotton prices, hit hard, increasing competition, international players, lack of clarity on GST has also hurt business in the region, made trade difficult for textile mills, poor quality cotton in the region, Regional textile industries, Textile mills hesitating to build up stock
Regional textile industries hit hard due to surge in the cost of production and increasing competition from international players. Fluctuations in cotton prices and poor quality cotton in the region have also made trade difficult for textile mills. Industry experts said despite a drop in cotton prices, textile mills don't benefit.
According to Suresh Maheshwari, owner of a textile mill, the textile market is in a depressive state. They are not competitive at an international level because countries like Bangladesh, Vietnam and Pakistan offer garments at cheaper rates.
