The author has covered various issues that manipulated the Indian Garment Industry during 2012, published earlier in fibre2fashion. This article is a summarization of all the industry events.
Views expressed are the personal opinion of the author.
Perhaps,it is the time to go nostalgic at the end of the year that was. It is desirable, perhaps even necessary that we should pause for a while from the hot pursuit of the events that keep on happening, some of which are not too pleasant and others slightly better, but need to take the holistic look at the total scenario.
As per January 2011 review, I find the picture was far from rosy. Review of the year 2011 started with the bare, even though somewhat alarming, facts, stating,The projected GDP growth has been revised by the Government of India from 9%as projected in the Budget for the current year to 7.5%........ Other indicators are: India's average monthly inflation rate for the last seven month is 9.62%; upward revision of interest rates 13 times in the last 20 months; 16%fall in the Rupees value in terms of US dollar during the last two months; a sharp decline to 1.9% growth in factory output in September, the lowest in two years.
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