Home / Knowledge / News / Apparel/Garments / Govt must take apt measures to tackle global recession
Govt must take apt measures to tackle global recession
05
Dec '08
Mr Akshay Kumar, National Manager, Madeira India Pvt Ltd
Mr Akshay Kumar, National Manager, Madeira India Pvt Ltd
As the claws of recession began to tighten its grip, world's richest economies started crumbling. The growth pace slowed down when the global market entered into a major down turn.

The US and EU being the major consumers of garments, this decrease in demand is creating difficulty for the industry to endure the losses. The threat of unemployment is looming large in people's lives.

Mr Akshay Kumar, National Manager, Madeira India Pvt Ltd, while speaking exclusively to Fibre2fashion.com, shared his views on the current critical scenario and its impact on domestic as well as international market.

He said, “The Global recession has started taking grip on the Garment Industry too. Recently I was talking to the leading buyers from USA & EU; all are either downsizing the order or delaying the same. The net resultant of delayed orders for Spring/Summer '09 is around 30 - 40 percent. It will worsen in future, if corrective measures are not taken on time.

“In respect to Indian exporters - they are feeling heat of lower order as well as the transfer of order to Bangladesh and Vietnam as low cost garment producing country as compared to India.”

Mr Akshay Kumar went on saying, “The next quarter will really show the impact of the global recession. Indian Government should prepare itself to tackle the situation by taking appropriate policy measure like reducing import duties, giving more incentive to exporters. I hope the situation will not worsen in year 09 & the world will come over with recession impact soon.”

Madeira is a top player in the embroidery threads industry. The Company has its own team for quality control. This group of competent specialists sequentially checks and tests raw materials in use as well as production processes, according to the most sophisticated criteria applying latest technologies.

Fibre2fashion News Desk - India

Must ReadView All

President Donald Trump; Courtesy: White House

Textiles | On 24th Jan 2017

US sets ball rolling for withdrawal from TPP

President Donald Trump has set the ball rolling for withdrawal of the ...

Courtesy: NEJ

Apparel/Garments | On 24th Jan 2017

NEJ fully acquires Bills Khakis from Source Capital

Provider of reverse logistic excess inventory solutions for specialty ...

President Donald Trump; Courtesy: White House

Textiles | On 23rd Jan 2017

US textile industry eager to work with President Trump

The US textile industry is eager to work with President Donald Trump...

Interviews View All

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search