THE TEXTILE INDUSTRY IN ITALY IS DYING

Industrialists are demanding the proclamation of the state of emergency; resources are needed to overcome the current textile sector meltdown. The textile chain of the Biella district is dissolving bit by bit. Biella and Prato alike want the government to acknowledge the crisis situation.
The Polytechnic University of Turin has announced budget cuts for textile engineering courses.
“The present crisis is one of the worst ever. […] Industrial production has fallen by 27%, with peaks of -30, -50% in various sectors. Export has dropped by 25%”, Donatelli stated on the occasion of the Union of Industrialists general assembly meeting.
The value of Made in Italy was also discussed. “The draft regulation on obligatory labelling of incoming goods and goods traceability has already been deposited”.

Newspaper headlines are rife with recession talk and fears of possible total meltdown of the Italian textile industry. Paola Gabello recently raised the alarm in an article that appeared in the newspaper La Stampa
We are sceptical of doomsday predictions. What’s your opinion on this matter?