Related Keywords: bleak outlook, Bombay yarn Traders association, decline in world buying capacity for textile, domestic production, dwindling Chinese economy, export potential, Indian textile industry, Indo Rama Synthetics, market crash in China, MEG, multi-year lows, price of raw material, PTA, sharp decline, synthetic yarn, texturised yarn
Export potential for synthetic yarn in the Indian industry is seeing a sharp decline again with the dwindling Chinese economy. The recent market crash in China has a lot to do with bleak outlook of domestic production in almost all sectors including textiles. Units in China have been cutting down production due to decline in the world's buying capacity for textiles. This has resulted in synthetic yarn exports, especially texturised yarn falling steeply, said Jayesh Pathak of Bombay Yarn Traders Association.
