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The Early Impact of COVID-19 on Textile Industry: An Empirical Analysis

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  • Kiranpreet Kaur

Abstract

The COVID-19 pandemic has exposed the economy to immense distress, ruptured multiple systems and left the economy out of breath. The present study has made an exploratory attempt to unleash the business-related issues faced by the textile entrepreneurs of India (Punjab) due to COVID-19. The data were collected from 123 entrepreneurs from the textile industry in Punjab. Factor analysis and regression analysis have been used for the purpose of analysis. It was found that the major business-related issues faced by entrepreneurs due to COVID-19 include the radical effect on the working capital of the business and on future marketing campaigns to seek new orders. However, the majority of them were found to be digitally equipped to accept digital know-how instantly and grabbed opportunities by manufacturing N95 masks and personal protective equipment (PPE). The present study is a maiden attempt to unleash the early impact of COVID-19 on the textile industry in Punjab. JEL Codes: E30, E32, L26

Suggested Citation

  • Kiranpreet Kaur, 2021. "The Early Impact of COVID-19 on Textile Industry: An Empirical Analysis," Management and Labour Studies, XLRI Jamshedpur, School of Business Management & Human Resources, vol. 46(3), pages 235-247, August.
    • Handle: RePEc:sae:manlab:v:46:y:2021:i:3:p:235-247
    DOI: 10.1177/0258042X21991018
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    References listed on IDEAS

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    1. Robert W. Fairlie, 2020. "The Impact of Covid-19 on Small Business Owners: The First Three Months after Social-Distancing Restrictions," CESifo Working Paper Series 8581, CESifo.
    2. Naudé, Wim, 2020. "Entrepreneurial Recovery from COVID-19: Decentralization, Democratization, Demand, Distribution, and Demography," GLO Discussion Paper Series 631, Global Labor Organization (GLO).
    3. Maliszewska,Maryla & Mattoo,Aaditya & Van Der Mensbrugghe,Dominique, 2020. "The Potential Impact of COVID-19 on GDP and Trade : A Preliminary Assessment," Policy Research Working Paper Series 9211, The World Bank.
    4. Abel Brodeur & David Gray & Anik Islam & Suraiya Bhuiyan, 2021. "A literature review of the economics of COVID‐19," Journal of Economic Surveys, Wiley Blackwell, vol. 35(4), pages 1007-1044, September.
    5. Henry Kaiser, 1974. "An index of factorial simplicity," Psychometrika, Springer;The Psychometric Society, vol. 39(1), pages 31-36, March.
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    Cited by:

    1. Tuba Ergun & Derya Uçoglu, 2022. "Effects of COVID-19 Pandemic on Textile, Leather and Clothing Companies and Their Financial Reports: a Research in BIST," Muhasebe Enstitusu Dergisi - Journal of Accounting Institute, Istanbul University Business School, vol. 0(66), pages 95-112, January.
    2. ARAVAMUDHAN Varadaraj & SAI MOHANRAJ Prasanna & SENGODAN Ananth, 2022. "Implications Of Covid-19 On Textiles Industry In India - Discovering Issues And Challenges On Demand And Supply Sides," Eastern European Journal for Regional Studies (EEJRS), Center for Studies in European Integration (CSEI), Academy of Economic Studies of Moldova (ASEM), vol. 8(2), pages 18-29, December.

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    More about this item

    Keywords

    Business policy; Punjab studies; factor analysis; regression and correlation; textiles;
    All these keywords.

    JEL classification:

    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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