Largest textile hub of eastern India lost Rs 15.5 lakh crore due to lockdown

Kolkata, State Bureau. The major textile hub of eastern India is under huge market crisis due to the lockdown. Around 15,000 businessmen are opening their shops, but the customers are absent. According to a survey conducted in different areas of the country, small and medium textile traders have suffered a loss of about Rs 15.5 lakh crore in the last 100 days. If this situation continues for a few more days, 20 percent of the traders will be forced to close their business.

According to traders, the business has derailed. Someday, Mr. Ganesh is also not being sold. Previously, where there was excitement in the market from morning to night, today there is silence. Traders are getting caught in the financial crisis. This is more or less the case of the textile industry of the whole country. The textile industry is going through a big crisis these days. Eid, wedding season also passed. At this time, traders were engaged in the business of Durga Puja. They are stepping in due to increasing infection.

Income closed due to lockdown, but no end of expenditure

Mahendra Jain, secretary of the Chamber of Textile Trade and Industry (KOTI), the apex body for textile trade and business in eastern India, says that the lockdown has resulted in the loss of income but no end of spending. The process of giving salary to employees, shop rent, electricity bill, various taxes to the government is going on unabated. The government gave free grain, financial assistance to the weaker sections, announced relief packages for other industries, but did nothing for the textile industry. Whereas after agriculture, it is the most employment generating industry in the country. This industry does a business of 10 lakh crore rupees annually. More than 7 crore people are directly and indirectly connected to this industry.

Arun Bhuwalka, President, Chamber Textile Trade and Industry (Kotti), said that the condition of the textile industry in the Corona period has collapsed. The situation of businessmen is wavering. There has been a huge decline in business. It is difficult to say when this industry will be back on track. Until the corona virus is controlled, there is no possibility of improving the situation.

Distribution Center of Eastern India

– The textile hub of Kolkata is a distribution hub in eastern India. Clothes from Mumbai, Bhilwara, Surat, Pali, Coimbatore come here and then there is a business of clothes in Bengal, Bihar, Jharkhand, Odisha, Madhya Pradesh, North East states, neighboring country Nepal, Bangladesh.