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this will encourage parallel trade, should be forthwith withdrawn.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