Textile industry in India is facing crisis due to low demand in both export and domestic markets. Cotton prices have been volatile, electricity charges are up, and there is no support from the Centre or State governments. Imposition of 10% import duty in 2021 led to a sharp rise in cotton prices, hurting farmers and the industry. QCO on fibre is also impacting the industry. Domestic demand is tepid and apparel exports saw a degrowth in October. The industry needs policy intervention and measures to improve competitiveness.
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