India's textile industry returns to China, are foreign traders ready?

Affected by the spread of the overseas epidemic, the textile industries of India, Sri Lanka and other countries have been hit hard and delivery is difficult. In order to ensure that the supply during the Thanksgiving and Christmas sales season is not affected, European and American retailers have transferred a number of orders originally produced in India to production in China.

China is the world's largest textile producer and exporter, with obvious advantages in exporting labor-intensive products. The epidemic has severely impacted both the supply side and the demand side. The industrial chain and supply chain are simultaneously blocked, and China has also undergone the same test. Multinational companies adjust order production on a global scale, and international purchasers select suppliers based on production capacity. These are all normal market behaviors.

Affected by the epidemic in the first half of the year, more than 80% of the apparel industry companies' revenue declined, which severely dragged down the industry's prosperity. According to data from the Ministry of Industry and Information Technology, in August, garment exports increased by 3.23% year-on-year, which was the first time that the monthly positive growth had resumed after 7 months of negative growth during the year.

The main raw materials of textiles are cotton, cashmere, wool, cocoon silk, chemical fiber, feather and down.

The downstream products of the textile industry mainly include apparel, household textiles, and industrial textiles.

The textile industry is subdivided into cotton textile, chemical fiber, cotton and linen weaving, wool textile, silk, textile knitting industry, printing and dyeing industry, etc.

It can be seen that the last quarter of 2020 in China's textile industry has become an opportunity. Are foreign trade friends in the textile industry ready?