Due to the pandemic situation, European Union and the world put the effort into textiles, clothes, footwear, and accessories supply chains, in the midst of an ongoing social and climate crisis. On another hand, the COVID has seriously impacted major manufacturing hubs (China, India, and Italy), leading to major supply disorders. Textile industry is the heart of our economy. We have developed our industry a lot and there are so many remarkable developments we have already achieved i.e Green Industry, Compliance Factory, industry best practices etc. Team Textile Focus talked with industry owners and stakeholders and took quick feedback regarding the present business situation. Neela Hosna Ara, Chairman, Crony Group, recently shared his opinion about the recent scenario of RMG industry with Textile Focus.
During this COVID pandemic situation, the biggest problem we now face is not the lack of orders from buyers, but the supply chain disruptions that inflate prices for essential inputs. For example, the prices of raw materials that we import, such as yarn, have increased exponentially.
Furthermore, transportation costs and customs dues have also increased. Thus, even if total export increases, we face many challenges. The only solution to move forward as a nation is to increase vaccination rates and achieve herd immunity. Otherwise, we will be locked in this vicious cycle of lockdowns and economic hardships.