Indian Fashion Design Council starts COVID-19 support fund
07 Apr 20 2 min read
Pic: Shutterstock
The Fashion Design Council of India (FDCI) recently established a COVID-19 Support Fund to offer financial assistance to small businesses and young designers in need. Many designers have offered their assistance, according to FDCI chairman Sunil Sethi. If there is an excess of funds, then the second part of the initiative will be planned.
Following the nationwide lockdown, the fashion industry has witnessed a drastic dip in the sales of textiles and apparels, instantly affecting cash flow. As the industry employs a number of tailors, craftspeople, weavers, embroiderers, the outcome of delayed or cancelled orders, zero sales along with the salaries, rentals and utility bills that need to be paid, it is having a huge impact on professionals in this field.
While many designers in their personal capacity, are looking after the wellbeing of their craftsmen, many smaller businesses are not able to withstand the financial blow, FDCI said in a statement.
“Meanwhile, we are approaching the government and ministers, including Smriti Irani, who has been supportive of the textile, design and fashion industry. We are positive that there will be some help extended by them for the tailors, craftsmen, weavers and embroiderers. Maybe they will suggest us some scheme that will help our designers,” added Sethi.
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Following the nationwide lockdown, the fashion industry has witnessed a drastic dip in the sales of textiles and apparels, instantly affecting cash flow. As the industry employs a number of tailors, craftspeople, weavers, embroiderers, the outcome of delayed or cancelled orders, zero sales along with the salaries, rentals and utility bills that need to be paid, it is having a huge impact on professionals in this field.
While many designers in their personal capacity, are looking after the wellbeing of their craftsmen, many smaller businesses are not able to withstand the financial blow, FDCI said in a statement.
“Meanwhile, we are approaching the government and ministers, including Smriti Irani, who has been supportive of the textile, design and fashion industry. We are positive that there will be some help extended by them for the tailors, craftsmen, weavers and embroiderers. Maybe they will suggest us some scheme that will help our designers,” added Sethi.
Fibre2Fashion News Desk (DS)
Disclaimer - All News/Articles items are subject to copyright and no article either in full or part may be reproduced in any form without permission from Fibre2Fashion Pvt. Ltd.
