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India's epidemic is out of control, textile orders will return

April 29, 2021
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Since April, India’s daily increase in the number of confirmed cases of new crowns has hit a record high. According to the latest data released by the Indian Ministry of Health on the 26th, the number of confirmed cases of new coronary pneumonia in India rose to 17,313,163. In the past 24 hours, India has newly confirmed 352991 cases, which is a new high. Textile revenue has always been one of the main pillars of India’s economy and one of India’s largest sources of foreign exchange income. The textile industry accounts for about 15% of India’s total export revenue. In October last year, affected by the epidemic, many large-scale export-oriented textile companies in India were unable to guarantee normal delivery due to the epidemic. Many orders originally produced in India have been transferred to my country for production, and many foreign trade companies have experienced explosive orders.

Comment: As domestic textile manufacturers resume work in an orderly manner, domestic and foreign demand is gradually digested by the impact of the epidemic, and foreign epidemics have caused orders from the textile industry to flow back to the country. Orders began to improve significantly in the fourth quarter of 2020 and have continued to this day.

Jujie Microfiber (300819) is one of the earliest domestic enterprises engaged in the processing and application of ultra-fine composite fiber materials. Its partners include Decathlon, ZARA, C&A and other internationally renowned brands.

Xinye Textile (002087) has a relatively complete industrial chain of cotton, spinning, weaving, dyeing and finishing.

 

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