India'S National Garment Industry Will Shut Down &Nbsp On Friday; Protests Will Be Held.

The India Clothing Export Promotion Association (AEPC), the top body of the clothing industry in India, called for a nationwide protest.

Members of the India garment export promotion association and representatives from various regions will meet with state government officials and regional representatives.

The clothing industry in India is the largest job creation industry after agriculture. It is home to about 6 million employees (50% of whom are women). Recently, the clothing industry has been in a predicament because the price of cotton yarn has risen sharply, and cotton yarn is the basic raw material for the production of clothing.

As we can see, the price of cotton yarn (40s Combed Knitting Yarn price) was 185 rupees / kg in August 2010, and now it has risen to 240 rupees / kg, the highest record in history, and 55 rupees / kg in two months.

According to this trend, the price of cotton yarn has risen by 70%-82% in the past 16 months.

As a result, fabric prices rose by 38%-90% on different yarns, leading to higher prices for final clothing products.

As global clothing prices are sluggish, garment exporters are the biggest victims, because they can not pass the price increase.

The apparel industry says that the price of yarn is increased by 15 rupees -20 rupees per kilogram per day.

Yarn prices rose more than cotton prices.

At the same time, yarn supply is tight.

This situation may also hurt ordinary people.

For example, an ordinary person usually wears clothes. Two months ago, the cost was 50 rupees, and the cost now increased to 85 rupees.

In addition, if scarce raw materials continue to export, they can only help India's competitors expand their business, resulting in India garment exporters unable to buy raw materials in China.

If this situation continues, the garment industry will reduce job opportunities.

Most of the people who lost their jobs were women.

Insiders pointed out that 40% of India's cotton yarn exports to Bangladesh and 60% to China. The export of cotton yarn can only help India's competitive countries grow, such as China and Bangladesh, which are not conducive to the development of India's domestic garment manufacturing industry. When the cotton yarn has a good opportunity in the domestic market, India can not ignore the domestic advantages. India garment industry requires the government to give priority to supporting value-added sectors and the development of industries that create employment opportunities.