Home / Knowledge / News / Apparel/Garments / Lockdown effect: Indian apparel industry to shrink by 35%

Lockdown effect: Indian apparel industry to shrink by 35%

01
May '20
Pic: Wazir Advisors
Pic: Wazir Advisors
Indian apparel industry is projected to decline 35 per cent based on different domestic market and exports scenarios, says a new report analysing the impact of the COVID-19 lockdown. The industry situation is grim, and new consumer and retail trends will drive numerous changes which will require manufacturers to think ahead of others to remain relevant.

After slowing down in last few years, the Indian economy was expected to recover in the last quarter of FY20. However, the coronavirus pandemic has made the recovery extremely difficult in the near to medium term. The report by management consultants Wazir Advisors The Great Lockdown: Indian Apparel Industry to Shrink by 35% says the longer the lockdown, slower would be the recovery.

While all consumer market segments will be affected badly, it is expected that some will recover faster than the others depending on utility, durability and unit cost. Further, seasonality will have different impact across segments.

Recovery will also vary category-wise. While apparel retail will reduce from 20 per cent to 48 per cent, value of production would also reduce proportionately, according to the report.

In such a scenario, Indian textile and apparel industry needs to focus on manufacturing excellence including smart factories to improve productivity and cost competitiveness. The focus area includes share consolidation in core categories, product diversification, export market diversification, and business consolidation with existing buyers.

Click here to read the complete report

Fibre2Fashion News Desk (RKS)


Must ReadView All

Pic: Shutterstock

Textiles | On 14th Apr 2021

Sri Lanka to ban fabric imports

Sri Lanka is all set to ban the import of textile fabrics in a bid to ...

Pic: Sorbis / Shutterstock.com

Apparel/Garments | On 14th Apr 2021

Bangladesh apparel exports dip 2.55% in July-March FY21

Readymade garment exports from Bangladesh declined by 2.55 per cent...

Pic: Shutterstock

Textiles | On 14th Apr 2021

US proposal for global minimum corporate tax finds takers in Europe

The idea of a global minimum corporate tax floated by the US has...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Verticals like fast fashion won’t completely adopt personalisation on...

Textile Industry, Head honchos

Textile Industry
Head honchos

Social media critical in regeneration of businesses

Textile Industry, Head honchos

Textile Industry
Head honchos

We are staring at livelihood crisis for weavers

Neeraj Sharma,

Neeraj Sharma

Headquartered in Surat, Gujarat, Orange O supplies digital textile...

Bharat Ahuja,

Bharat Ahuja

A mono store brand, <b>Bharat Ahuja's</b> Desire Design Studio has emerged ...

Akash Sehgal,

Akash Sehgal

Part of retail and hospitality conglomerate Landmark Group in Dubai,...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Karan Bose, Hula Global

Karan Bose
Hula Global

Hula Global, a leading isolation gown manufacturer in India, has been...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

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

Leave your Comments


April 2021

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


Advanced Search