Gujarat Chemical Industry Worried Over Impacts Of Turkey Earthquake

| Updated: February 10, 2023 12:50 pm

The recent earthquake in Turkey and Syria has raised concerns among Gujarat’s chemical industry, as Turkey is one of the largest buyers of textile dyes produced in the state. The earthquake caused severe damage to several major textile hubs in Turkey, including Marash, Ankara, Izmir, and Denizli, and it is believed that it will take some time for the country’s textile industry to recover, which will have a direct impact on Gujarat’s chemical sector.

Manish Kiri, MD of Kiri Industries Ltd, which exports to Turkey, stated, “Marash is a hub of textile processing, and it has been badly affected by the earthquake. Our buyers there have informed us that several factories have collapsed. India exports about 4,000 tonnes of dyes to Turkey every month, with Gujarat accounting for about 80% of this. Turkey is one of the largest markets for textile dyes, and Eastern Turkey is a significant textile processing region.”

While Turkey is the third-largest supplier of textiles to the European Union and the sixth-largest textile producer in the world, some believe that the earthquake will not have a significant effect on textile output and that the sector will recover soon.

Bhupendra Patel, Chairman (Gujarat) CHEMEXCIL, said, “By our estimates, demand for dyes from Turkey will be 20% lower. Although textile processors have suffered losses, not all factories have had massive losses, and they will soon restart production.”

Due to the low demand from the textiles industry, Gujarat’s chemical industry has been experiencing a rebound in demand after one of its worst periods. With Turkey being a significant customer, the industry is closely monitoring the situation and the majority of dye plants are currently operating at 60% capacity.

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