Please fill in your details to download the Table of Contents of this report for free. We also do customization of these reports so you can write to us at firstname.lastname@example.org in case you need any other additional information.
“Surat generally gets bulk orders from various parts of the country. Demonetisation has badly affected our business dealings. Consumers are spending as low as possible. Textile sales have gone down by 50-60 per cent. Placing of order has also reduced by around 75 per cent. The situation is such that weaving has decreased by 60 per cent and processing by 30 per cent. Cash inflow is also very slow. However, it is a positive sign for us that few consumers are still purchasing garments via credit/debit and online system,” Southern Gujarat Chamber of Commerce and Industry president BS Agrawal told Fibre2Fashion.
Despite slow business in the textiles, representatives of the sector welcomed the move hoping that it will ensure systematic functioning of the entire value chain related to the industry.
“Initially, the sales had gone down to around 15 per cent. With time, the sales have improved a bit and we hope that it increases with the recovery of cash crunch in the market. However, demonetisation will definitely benefit the textile business in the long run. It is expected that this initiative by the government will restrain all unbilled sales,” said Naishadh Parikh, chairman, Confederation of Indian Textile Industry.
“The situation is not very good. It will take time for the market to move towards cashless economy. Large retailers have not been much affected as consumers are doing purchases with plastic money and via online. However, with the ongoing wedding season, domestic retail shop owners are bearing the brunt of demonetisation,” said Ajay Sahai, director general and CEO of Federation of Indian Export Organisations. (RR)
Fibre2Fashion News Desk – India
| On 3rd Dec 2020
China has overtaken the United States in the third quarter of this...
Vietnam's textile and garment industry is predicted to earn $33.5-$34 ...
Uzbekistan's Textile-Contact Company recently signed a $12-million...
‘New vendor is welcome if he offers cost, quality and timely delivery’
The S Studio
Ethnicwear market will see an upward trend if uniqueness and quality are...
Very few machinery manufacturers have R&D units
Textile Events is one of the largest textile fair in the United Kingdom,...
Nandan Denim, part of leading conglomerate Chiripal Group, commenced its...
Mesdan SPA, a subsidiary of Italian firm Savio Macchine Tessili,...
Pierre Wiertz talks about the vast world of sustainable nonwovens and...
Justin Chan & Shyam Gollakota
University of Washington
A fabric that can store data without any electronics or batteries has been ...
Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...
Rupa Sood and Sharan Apparao
Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...
The hype around 'designer jeans' was created by him. And the new wave of...
Hemant & Nandita
Hemant & Nandita
The designer duo of Hemant & Nandita are known for being inspired by...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.