Cash crunch is very much the talk of the town today! Though demonetisation is a bold decision taken by the Government, it has left a sudden jerk in the entire textile chain. Textile retailers faced the immediate impact and other intermediaries in the value chain are facing it now with a lag of a few weeks with reduced orders due to slower offtake.
Browsing: Demonetisation
Thanks to the demonetisation, the Indian textile and apparel industry has lost 30-40 per cent of business. Apparel sale in domestic markets had stopped in the initial days and recovered gradually. Consumers continue to face liquidity tightness, resulting in deferring of purchase.
Cash crunch is very much the talk of the town today! Though demonetisation is a bold decision taken by the Government, it has left a sudden jerk in the entire textile chain. Textile retailers faced the immediate impact and other intermediaries in the value chain are facing it now with a lag of a few weeks with reduced orders due to slower offtake.
Thanks to the demonetisation, the Indian textile and apparel industry has lost 30-40 per cent of business. Apparel sale in domestic markets had stopped in the initial days and recovered gradually.
On the one side appreciating the bold initiative of demonetisation of the Government, The Southern India Mills’ Association (SIMA) has also lamented the hardships faced by the mills.