At Present Manufacturing sector news.
As reported in the Manufacturing News update-40% Manufacturing unit in the Textiles Sector can be Insolvent, Demand for Interest exemption.
As reported in the Manufacturing News update-40% Manufacturing unit in the Textiles Sector can be Insolvent, Demand for Interest exemption.
⇛Vikas Matlani, head of clothing company, Leo & Bibus, a garment maker for children in Mumbai, is in great difficulty due to lockdown. Finished goods which are not getting up from the go-down, due to which the entire working capital has fallen.
as mentioned in the Business news update,This is the situation not only in the for Garment manufacturer but also in the textiles sector, which contributes 2.3 percent to the GDP i.e. around 12 lack crore, not only this, more than 10.5 crore jobs are also affected.
From April 20, only 20 to 30 percent of the spin milling will be able to start.
From April 20, only 20 to 30 percent of the spin milling will be able to start.
⇒In view of this situation, the National Committee of Textiles and Clothing has demanded from the government that Banks should extend a three-month moratorium on all types of loans.
⇒There is an emergency situation for the entire value chain of textile sector because of lock-down. Cash liquidity is in must need, According to the Manufacturing news, a large number of companies can go bankrupt.
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