June 17, 2024
Trade & Market

Eid-Ul-Fitr Business Keeps Ahmedabad Textile Market Buzzing

Eid-ul-Fitr is around the corner and Ahmedabad’s textile markets are buzzing with activity. Retail demand is high, leaving the market in a bullish mode for the festival season ahead.

“There has been a good demand ahead of Eid,” Gaurang Bhagat, President, Maskati Cloth Market Mahajan said.

“Ahmedabad’s textile traders are reporting a significant increase in orders from across different states, signaling good times for the industry in the upcoming festival season,” he added.

“Placement of orders and manufacturing process begins around three to four months before any festival and the sentiment is quite encouraging this year,” ToI quoted Bhagat as saying.

What adds momentum to the demand is the comparatively low cotton prices that have remained in the range of Rs 55,000 to Rs 61,000 per candy and are quite low compared to the previous two years.

Industry insiders said raw material prices have dropped, allowing the manufacturers to produce fabrics more affordably, passing on the benefits to traders and registering a significant increase in volume.

About four months ago, textile traders began receiving substantial orders for various types of fabrics from different states.

This surge in demand has been most notable for shirting, suiting and dress materials, indicating a positive trend in the market.

Additionally, the denim sector, which is a key segment of the textile industry, has also recorded a revival in demand.

This recovery is evident as denim plants have ramped up their operations, utilising approximately 90 percent of their capacities. This suggests the industry is bouncing back after a period of slow demand.

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