President Hyderabad Chamber of Commerce and Industry Adeel Siddiqui has emphasized the need of initiating concrete measures to boost the textile industry.
“The textile industry of the country is facing serious difficulties after the cotton crop was washed away by rains and floods, and the government faces a gigantic challenge of managing the textile industry,” he said in a statement issued here on Saturday.
He said due to damages to the cotton crop a shortfall of five million bales was expected in the cotton sector. This could require $ 2 billion to import cotton bales while the country was already faced with a crisis of foreign exchange reserves, he added.
