Currently, how is India projected on the Sportswear track? Any hurdles in the growth course?
Sportswear sector has been growing faster than the country’s GDP Growth, and will continue to do so. The consumer preferences have been changing very rapidly with more and more acceptance for internationally inspired sportswear trends leading to this robust growth scenario.
Areas of Concern
· 10% mandatory levy on branded wear announced by Indian FM: This is crazy, the country is going through inflationary pressures already, and at this junction, such a levy will kill the branded industry, rather than encouraging consumption this will encourage parallel trade, should be forthwith withdrawn.
· Infrastructural & Logistics Lacunae: Due to this, there is inadequate international investments in manufacturing units. The scale of units is smaller with not much export orders as compared to Far East nations, consequently the productivity of even the labor is less.
· Inadequate support from the Government in terms of progressive policies and investments.
Published on: 11/05/2011
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