IMPORT SUBSTITUTION STILL A DISTANT DREAM FOR RUSSIAN TEXTILE SECTOR
February 1st, 2016
A shortage of raw materials and domestic equipment is making import substitution difficult for the Russian textile sector. Indeed, instead of seeing rising production amidst increased rhetoric about localising production, fabric output has slumped across all categories. According to industry insiders, manufacturers are still years away from replacing imports with locally-made products.
Russia's fabric production dropped by 2.4% in 2015 as compared to 2014, and 7.4% in comparison to 2013 levels, according to the Moscow-based textile analytics agency Anitex. ...
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