October 3, 2021 3:35:56 am
Southern Gujarat Chamber of Commerce and Industry president Ashish Gujarati Saturday said that due to the power crisis in China there is a big business opportunity for textile industry players in Surat.
Gujarati was speaking at a meeting organized by the SGCCI with the experts and textile industry players on the topic of “Power crises in China, an advantage for Surat and India”.
The shortage of coal supplies, toughening emissions standards and strong demand from industry have led to record rise in coal prices in China triggering widespread curbs on usage.
“Due to the power crisis in China, a big business opportunity has come out for all the industries of Surat, South Gujarat, and entire India, and time has come to grab it. Those industries running with the raw materials imported from China will have to start preparations as there would be a shortage of supply. The industry people should also work to find out other sources of the supply of raw materials,” Gujarati said.
He added, “China is also a major exporter of apparel and textiles to the world. Due to the reduction of coal production, the power rates will go high up between 30-40 per cent, which will also lead to rise in production costs. The power crisis of China will benefit to many industries in India and especially the textile industry of Surat.”
Business management consultant Haresh Calcuttawala said, “Majority of the power plants in China are coal-based, and the Chinese government has reduced coal production. Their government also had fixed power rates and the condition has become difficult for those involved in power productions.”
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