Textile demand momentum to continue in FY23

Reduction in impact of Covid-19’s third wave, as well as accelerated re-opening activities, will boost textile demand in FY23, said India Ratings and Research (Ind-Ra).

The ratings agency cited that reduction in logistics issues for export demand will aid in keeping healthy demand.

Domestic demand for all the textile sub-sectors has continued to improve from 2QFY22, after a slight dip in 1QFY22. The increased demand momentum along with the supply chain issues has increased the realisations, it said.

Demand for cotton remained all-time high in 2HFY21, leading to reduced opening stock for the new cotton season. The rise in prices of cotton has led spinners to accumulate the stock.

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