After witnessing a major slowdown in 2019, the garment manufacturing industry in Gurugram has a chance to recover.
And how! They are expecting a rise in the demand of finished clothes in next few months as the US and Europe-based buyers are diverting their businesses from China to India owing to the outbreak of the nCOV (novel Coronavirus).
Shutting down of factories in China, due to the deadly virus, has led to disruption in industries, thereby breaking the global supply chain.
India’s textile exports had suffered a blow in 2019 majorly owing to high labour costs, tough competition from abroad and trade policies, whereas countries like Bangladesh and Vietnam with cheaper labour and technical support continued to expand their horizons.
If China’s health crisis continues to prevail, the manufacturers and exporters in India expect a rise of at least 20-30 per cent in the export of finished garments this year.
IS Yadav, Joint Director, District Industrial Centre, Gurugram, said that the garment industry in Gurugram is being provided trade subsidies, and that the State Government has several schemes to boost the industry.
