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The Morning Brief
Weaving Woes: Why are Tiruppur’s Textile Mills Shutting?
May 24, 2024
Tirupur, India's knitwear capital, is facing a crisis due to rising energy costs, inflation, and reduced Western consumption. The podcast explores the challenges in the textile industry, comparing India's competitiveness with countries like Bangladesh. The episode discusses government support, factory closures, and the need for policy reforms to revive the sector.
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Quick takeaways
- Tirupur's textile industry suffers due to external factors like energy costs and reduced Western consumption.
- Local challenges such as lack of government support and high yarn prices worsen the crisis in Tirupur's textile sector.
Deep dives
Impact of War on Tirupur's Textile Industry
The war between Russia and Ukraine has led to a surge in energy costs and reduced consumption in the West, negatively affecting Tirupur's textile exports. In addition to external factors, local challenges like lack of government support, competition from other countries, and high yarn prices have intensified the industry's struggle. Consequently, businesses are closing down, leading to job losses and economic strain on the city.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode