The Covid-19 has jolted the entire world leading many industries to be impacted negatively. Multiple factories across the globe were forced to switch off their machines & shut their doors. Similarly, the textile industry was no such exception.
Since the lockdown began, the worldwide textile industry owners stated that 30% of orders were canceled, disrupting the entire supply chain.
Additionally, the textile industry also faced a colossal downfall while facing transportation issues, crude costs, non-accessibility of manpower, working capital, limitations for import and export etc. therefore, ultimately resulting in the shutting down of multiple suppliers and manufacturers. Moreover, industries in the textile sectors were faced with high job losses and financial challenges due to the uncertain Covid-19 situation which evolved at an alarming rate.
However, over the time, the textile industry has been attaining its success again and has been able to get back on the track since the world economy is opening up, thus resulting everything to fall into place.
Organizations and firms inside the clothing and textile business are meeting on an ongoing basis to discuss a way forward amid such a devastation. Also, it has been noted that there has been a foreseen change in the few parts of the inventory and assembling processes.
Seeking The Ray of Hope
Being harshly affected by the covid-19, the textile industry is now seeking long-term growth due to the availability of human resources with a long-term commitment as the situations are getting certain as the pandemic comes to a stage of control. The upcoming future development would be difficult because the new normal will be time-consuming.
However, this can only be possible – if the textile industry embraces new solutions and innovations. Consequently, the government of India has been looking ahead to better the textile industry and ensure that they recover the damage more swiftly. Hence, they have been working towards multiple schemes that can benefit the handlooms and the weavers of the industry in the form of providing financial assistance, skill upgradation, infrastructure development, and much more. A few of the schemes formed are:
NHDP: National Handloom Development Programme
CHCDS: Comprehensive Handloom Cluster Development Scheme
HWCWS: Handloom Weavers’ Comprehensive Welfare Scheme
The extended development of fabrics and supporting enterprises offers a novel chance to understand the ecological and monetary advantages of economical creation rehearses.
Devika Fibres has been in the business for years now and is leading polyester yarn manufacturer in India. Unfortunately, since the industry experienced a downfall due to the challenges brought by the pandemic, but with the enhanced vision and strategies, Devika Fibres is now working effectively & is expecting tremendous growth in future due to its structured resources and capabilities in place.