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Indian apparel sector anticipates good festive season
10
Jul '12
Mr. Rahul Mehta
Mr. Rahul Mehta
After witnessing flat sales growth in the summer season, the Indian apparel sector is expecting the sales to bounce back during the upcoming festive season.
 
“In the first half of 2012, the mood was very nasty. The summer season, on a like-to-like basis over the last year, was very flat. But now, I am seeing positive signs and I expect the clothing sector to grow by 5-10 percent year-on-year in the festive season,” Mr. Rahul Mehta, President, The Clothing Manufacturers’ Association Of India (CMAI), told fibre2fashion.
 
Giving reasons for his positive outlook, he says, “The economic conditions are often dictated by mood rather than reality and the mood of the country appears to be changing. The Prime Minister taking over the Finance Ministry has given positivity to the entire mood. There are also expectations that FDI in multi-brand retail will be allowed. Moreover, there are expectations that there will be reduction in interest rates.”
 
“I also do not foresee any supply crunch during the festive season as the workers’ strike in some textile mills in Ahmedabad has ended. Hence, I anticipate a fairly good festive season ahead,” he adds.
 

Fibre2fashion News Desk - India

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