'Power crisis in China' presents opportunity: SGCCI (Southern Gujarat Chamber of Commerce and Industry)
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5th October 2021, Mumbai:
(SGCCI) Southern Gujarat Chamber of Commerce and Industry president Ashish Gujarati like many trade experts including the new Textile Minister has reiterated that "someone loss is someone gain" so brewing China's Power Crisis' can be opportunistically be exploited in the Indian Textile industry favour given our fundamentals.
Additionally, the reported shortage of coal supplies in our neighboring country, toughening net carbon emissions standards, and robust better than expected demand from the industry both in its domestic & global exports standpoint have led to a historic unabated increse in coal prices in China enforceable widespread curbs on its usage are all fundamental tailwinds for Indian textile sector.
The triggered short to mid-term hose industries running with the raw materials imported from China will have to chart out strategies as there would be potentially a shortage of supply given precarious supply shocks been witnessed there.
Experts opine India has got shy of 5% global share in textile sector v/s China has roughly 35% as small as 0.5% of China share slippage India almost doubles down its global share so the bottom line is there is a huge opportunity knocking at our door.
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