Indian textile orders transferred to China
Views : 648
Author : Bozhou Marine
Update time : 2020-10-19 08:49:27
Affected by the spread of the overseas epidemic, the textile industries of India, Sri Lanka and other countries have been hit hard and delivery is difficult. In order to ensure that the supply during the Thanksgiving and Christmas sales seasons is not affected, European and American retailers have transferred a number of orders originally produced in India to production in China. Among the orders transferred from India to China, the orders for towels, bed sheets and other products are relatively large. According to estimated data, the number of orders now has been scheduled to May 2021.
In response, the Ministry of Commerce replied that China is the world's largest textile producer and exporter, with obvious advantages in exporting labor-intensive products. The epidemic has severely impacted both the supply side and the demand side. The industrial chain and supply chain are simultaneously blocked, and China has also withstood the same test. Multinational companies adjust order-to-order production on a global scale, and international buyers select suppliers based on production capacity. These are all normal market behaviors.
Affected by the epidemic in the first half of the year, more than 80% of the apparel industry companies' revenue declined, which seriously affected the industry's prosperity. According to data from the Ministry of Industry and Information Technology, in August, clothing exports increased by 3.23% year-on-year, which was the first time that the monthly positive growth had resumed after 7 months of negative growth this year.
5.0 Magnitude Earthquake In Iran
New Member Added to the Eurozone
RMB Exchange Rate Against the US Dollar
China Reduces Its Holdings of US Foreign Debt
