Manufacturers in the garment industry fear the problem of dead inventory due to order cancellations and contemplate the reduction of workforce. More than 20% believe the industry will begin to recover only in 2022.
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There could be as many as one crore job cuts in the textiles sector, which has been severely hit by the ongoing lockdown, if there is no support and revival package from the government, according to apparel industry body Clothing Manufacturers Association of India (CMAI)..
The Indian apparel industry could take a hit of almost Rs 1 lakh crore due to the lockdown to contain the Covid-19 outbreak and a significant slowdown is expected in economic growth once the lockdown ends, according to a survey by CMAI.
Followed by a successful edition and growing demand of screen printing in various application areas in the Indian market, Messe Frankfurt Trade Fairs India announces its 15th edition scheduled from 24 – 26 April 2020.
The onus for fall in the last three years could be attributed to demonetisation and the implementation of GST which have disrupted market sentiment and overall growth and the market has not yet recovered from their effects.
The onus for fall in the last three years could be attributed to demonetisation and the implementation of GST which have disrupted market sentiment and overall growth and the market has not yet recovered from their effects.
CMAI and its family of over 3500 manufacturers and 45000 retailers spanning from Shillong to Srinagar and Surat to Salem heartily welcomes the announcement of the Size India Project by the Minister of Textiles, Smriti Zubin Irani.