Textile Entrepreneurs Criticize Luis Caputo: They Claim the Industry Only Declined During Mauricio Macri's Government

Textile sector entrepreneurs, one of the most affected by import liberalization, rejected the statements of the Minister of Economy, Luis Caputo, regarding those who are concerned about the situation of the national industry being "crazy".

"From the Pro Tejer Foundation, we reject the statements of the Minister of Economy, Luis Caputo. To label as crazy those who express concern for the national industry is an outburst that degrades the debate and reveals a prejudice that should be discussed with data, not with disqualifications towards a sector that employs millions of Argentines," stated the organization.

In a statement, Pro Tejer sought to downplay the data presented by Caputo, according to which in the years when there was a more favorable policy for the sector, manufacturing activity still contracted.

"It is essential to clarify the omitted historical context. In industrial performance (2011-2023), a large part of the period includes administrations of which the declarant was part," the organization maintained.

Pro Tejer pointed out that "between 2016 and 2019, the industry fell by 13% and lost 4,849 companies", while "between 2020 and 2023, it grew by 19% and added 1,465 companies". On the other hand, it indicated that "between 2023 and 2025, it contracted by 10% and lost 3,759 productive units".

"History disproves that the industry hinders stability. Countries like Germany or South Korea built their strength on a strong industry. And Argentina has already shown that it is possible to combine industrial reactivation with fiscal and trade surplus," the foundation indicated.

The note adds that "neither agriculture, nor mining, nor hydrocarbons, nor the financial sector alone can replace formal work and the level of development that the industry provides." Additionally, it recalls that "the industry sustains more than 1,100,000 registered jobs at the federal level, compared to 330,000 in agriculture and 85,000 in mining and hydrocarbons.

In another aspect, it stated that "it is contradictory to demand competitiveness with a tax burden of 52%, one of the highest in the world", which conditions investment and export.

The UIA has a new meeting pending with Caputo.

The Argentine Industrial Union (UIA) defended itself and responded to Caputo's criticisms of the manufacturing sector. "I will not enter into controversies, but these are not happy statements that help the dialogue that is so needed to move this country forward," said the president of the UIA, Martín Rappallini.

The highest authority of the entity indicated that defending the industry "is not incompatible with defending macroeconomic stability, lowering inflation, fiscal balance, and normalizing the economy".

Rappallini has already held two meetings with Caputo this year at the Ministry of Finance. In September, a new meeting is planned, in which industrialists will insist on demanding better conditions to compete. The last meeting was on May 19. There, the head of the Ministry of Finance considered that the drop in demand facing the sector would be reversed by this time of year. At that time, he spoke of "the best 18 months" in Argentine history. The industrialists left that meeting with distrust regarding the official's forecasts.

For his part, the head of Argentine Small Industries (IPA), Daniel Rosato, also rejected Caputo's statements and, at the same time, lamented the "lack of dialogue" from the national government with the sector.

Rosato warned, in radio statements, that small industries are facing a wave of seizures and preventive contests. "We have more than a 150% increase in preventive contests, companies that are on the brink of bankruptcy compared to 2023," he assured.

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