Most of the textile companies have been under severe stress ever since the Covid pandemic struck Indian and the global economy causing economic slowdown.
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Demand for Indian home textiles is expected to continue to grow at over 8 per cent as seen in the recent past, aided by exports to traditional markets and deeper penetration into non-traditional markets.
CRISIL has trimmed its fiscal 2018 growth forecast for India by 40 basis points to 7 per cent from 7.4 per cent earlier, after data for the first quarter showed GDP growth at 5.7 per cent, the slowest in the past three years.
CRISIL’s nationwide survey of micro, small and medium enterprises (MSMEs) shows a substantial shift away from cash transactions following the government’s move to demonetise bank notes of Rs 500 and Rs 1,000 denomination recently.
Vardhman Group was ranked as the second most admired company in the Indian textile industry by Fortune India (July 2013). As one of the few ¨AA¨ rated companies by CRISIL in the textile industry, Vardhman Group has made rapid strides since its inception in 1965.
As per a study by CRISIL, online retailing – both direct and through marketplaces such as eBay – will triple to become a Rs 50,000 crore by 2016, growing at a whopping 50-55 percent per year over the next three years
The branded apparel market in India is expected to witness a positive growth over the next few years, though the organised apparel retail in India has been struggling with sluggish growth.