India's mill openings are peaking fast

According to a recent survey, the opening rate of cotton mills in India is rapidly peaking.The survey covered 24 spinning mills with a total capacity of 79.63 million spindles.

Overall capacity utilization hit 74% on July 23 and 84% on August 13, according to the survey.On May 11, the capacity utilization rate of Vardhman Textiles was 44%, which increased to 69% by the end of May, 93-98% by July, and 94-99% by August 13.

Trident Group's opening probability increased from 24% on May 11 to 98% on August 13.Chances of opening Nahar Spinning were 54% on May 11, 86% on May 31, 90% in July, and 95-98% in mid-August.The chance of RSWM being opened increased from 26% in mid-May to 75% in mid-August.Alty international's opening probability rose from 86% in mid-May to 95% in mid-August.

By region, the southern region, including Karnataka and Tamil Nadu, accounts for 27.64 million minuses.The northern region includes The states of Punjab, Himachal Pradesh, Delhi and Haryana, with 3.8 million ingots.By August 13th the odds had risen to 65%.By mid-August the chance of opening an industrial cluster in Gujarat had risen to 75%.

According to the survey, the recovery of formal enterprises is getting faster and faster.Affected by the epidemic, the opening rate of formal enterprises dropped to 44% in mid-May; however, it rose to 59% at the end of May, 70% in June, 74% in July, and 84% by mid-August.

The odds of opening other businesses increased from 25% in May to 58% in mid-August.