The electricity crisis in China, a business opportunity for the textile industry in Surat: president of the SGCCI
Southern Gujarat Chamber of Commerce and Industry Chairman Ashish Gujarati said on Saturday that due to the electricity crisis in China, there is a great business opportunity for players in the textile industry. in Surat.
Gujarati was speaking at a meeting organized by SGCCI with experts and stakeholders in the textile industry on the theme “Energy crises in China, an asset for Surat and India”.
The shortage of coal supplies, tougher emissions standards and strong industry demand have led to a record rise in coal prices in China, triggering widespread restrictions on use.
“Due to the electricity crisis in China, a great business opportunity has presented itself for all industries in Surat, southern Gujarat and all of India, and the time has come to seize it. Industries operating with raw materials imported from China will have to start preparations as there would be a shortage of supply. People in the industry should also work to find other sources of raw material supply, ”Gujarati said.
He added, “China is also a major exporter of clothing and textiles to the world. Due to the reduction in coal production, electricity tariffs will increase between 30 and 40 percent, which will also cause production costs to increase. China’s energy crisis will benefit many industries in India and especially the textile industry in Surat.
Business management consultant Haresh Calcuttawala said, “The majority of power plants in China are coal-based, and the Chinese government has cut coal production. Their government also had fixed electricity tariffs and the condition became difficult for those involved in electricity generation. “