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Indian yarn exporters fear impact of earthquake as it struck major textile manufacturing centres in Turkey | India News
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LONDON: Many large Indian businesses that export manmade fibre and spun-cotton yarns to Turkey fear the devastating earthquake there will impact supply chains and their businesses.
India is a large exporter of synthetic and other yarns to leading textile manufacturing centres in Turkey, including Gaziantep and Kahramanmaras, where it gets turned into carpets, formal wear and fast fashion and exported to Europe and elsewhere.
Gaziantep province was the epicentre of the first major earthquake and Kahramanmaras province was where the second struck.
Amit Lath, CEO of Sharda Group, said: “We have 18 clients in that region and so far we have only been able to make contact with one. We have no idea if the factories are still standing or not. The client I spoke to said both his in-laws had both died and he had not ventured out to the factory yet. Some textile factories have gone to ground zero. This is going to impact Indian businesses. Many will see their turnover hit.”
The Sharda Group also buys open-end yarns from Turkey for European factories. “There is a shipment that was supposed to leave on Monday. We have paid the advance but we don’t even know if the factories sending the textiles still exist. I can’t ask the supplier as no one is in the right frame of mind. There could be shortages now as the factories use the open end yarn to make hospital bandages and mattresses.”
“The sentiment in Turkey for exports from India has gone down. People are afraid of closing orders,” said Updeep Singh Chatrath, president and CEO of Sutlej Textiles and Industries in Mumbai, which sells yarn to companies in Bursa, Adana, Gaziantep, and Istanbul.
“We have checked their wellbeing and most have replied to say they are all okay but there is definitely an impact on order booking,” he said.
Dr S N Modani, MD at Sangam India in Bhilwara, which exports yarn to Gaziantep and Adana, said: “I am aware of three casualties in one business associate’s family in Adana where the building collapsed. A lot of owners have left the earthquake areas and gone to stay elsewhere, so no one knows how the factories have been affected.
“We are slowing down our production in India until the situation improves. No one has gone back to work in the factories as there is no power.”
Rakesh Mehra, chairman of Banswara Syntex, which exports yarn to Istanbul and Adana, said it was premature to predict the impact on his business, but it had definitely brought pressure on yarn prices. “I have not asked our clients if their factories are running as I just rang them to ask if they are okay,” he said.
India is a large exporter of synthetic and other yarns to leading textile manufacturing centres in Turkey, including Gaziantep and Kahramanmaras, where it gets turned into carpets, formal wear and fast fashion and exported to Europe and elsewhere.
Gaziantep province was the epicentre of the first major earthquake and Kahramanmaras province was where the second struck.
Amit Lath, CEO of Sharda Group, said: “We have 18 clients in that region and so far we have only been able to make contact with one. We have no idea if the factories are still standing or not. The client I spoke to said both his in-laws had both died and he had not ventured out to the factory yet. Some textile factories have gone to ground zero. This is going to impact Indian businesses. Many will see their turnover hit.”
The Sharda Group also buys open-end yarns from Turkey for European factories. “There is a shipment that was supposed to leave on Monday. We have paid the advance but we don’t even know if the factories sending the textiles still exist. I can’t ask the supplier as no one is in the right frame of mind. There could be shortages now as the factories use the open end yarn to make hospital bandages and mattresses.”
“The sentiment in Turkey for exports from India has gone down. People are afraid of closing orders,” said Updeep Singh Chatrath, president and CEO of Sutlej Textiles and Industries in Mumbai, which sells yarn to companies in Bursa, Adana, Gaziantep, and Istanbul.
“We have checked their wellbeing and most have replied to say they are all okay but there is definitely an impact on order booking,” he said.
Dr S N Modani, MD at Sangam India in Bhilwara, which exports yarn to Gaziantep and Adana, said: “I am aware of three casualties in one business associate’s family in Adana where the building collapsed. A lot of owners have left the earthquake areas and gone to stay elsewhere, so no one knows how the factories have been affected.
“We are slowing down our production in India until the situation improves. No one has gone back to work in the factories as there is no power.”
Rakesh Mehra, chairman of Banswara Syntex, which exports yarn to Istanbul and Adana, said it was premature to predict the impact on his business, but it had definitely brought pressure on yarn prices. “I have not asked our clients if their factories are running as I just rang them to ask if they are okay,” he said.
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