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CMAI Survey: India’s garment makers in a bad phase

May 11, 2021
CMAI Survey: India’s garment makers in a bad phase

New Delhi

The Clothing Manufacturers Association of India (CMAI) released the results of a new study on the Indian garment industry. As per the study, more than three-quarters of the industry’s micro, small and medium enterprise (MSME) manufacturers said that they were considering reducing their workforce by 25%.

72% mentioned that they feared a massive dead inventory in the impending months as more than 50% of the orders had been cancelled. Additionally, 72% said they received less than 25% of their payments, while another 12% received less than 50% of payments all due in April.

More than 20% believe the industry will begin to recover only in 2022.

Source: Business of Fashion

Image Source: Unsplash 

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