Slowly and gradually, the Indian textile market is recovering, while COVID-19 has a huge impact, says Prabhu Damodharan, Convenor Indian Texpreneurs Federation (ITF). Low-end, necessary and value-for-money product segments are moving well though, he added, trendy apparels that rely on showrooms at malls have yet to recover.
The federation advised and warned members only to scale up production after careful review of demand. Indian textile products have a good opportunity in the near future to enter Japan and 51 federal members have already expressed interest in making products for this promising market. Prabhu said people with eligibility criteria had easy access to this package benefit by indicating that the MSME financial package from the Center helped increase liquidity.