The Indian textile market is slowly and gradually recovering, even though the impact of COVID-19 is massive, says Prabhu Damodharan, Convenor, Indian Texpreneurs Federation (ITF). Low-end, essential and value for money goods segments are moving well though fashionable apparels that depend on showrooms in malls are yet to make a recovery, he added.
The federation advised and cautioned members to scale-up production only after carefully analyzing demand. There is a good opportunity for Indian textile products to enter Japan market in the near future and 51 members of the federation have already expressed interest to make products for this promising market. Stating that the MSME financial package from the Centre had been helpful in increasing liquidity, Prabhu said people with eligibility criteria had easy access to get this package benefits, he added.
