Indian cotton spinning sector to dip 25-30% in FY21

The Indian cotton spinning sector is expected to log a 25-30 per cent year-on-year decline in revenue and a 300-400 bps contraction in operating margin in FY2021 amid the COVID-19 led disruptions in manufacturing activities and an all-encompassing weakness in demand from the downstream segments, within as well as outside the country, according to ICRA.