Liquidity is a primary issue in Indian context
The pandemic has suddenly disrupted everybody’s lives and industries are not left behind. Fibre2Fashion spoke to textile industry veterans to find out the impact the pandemic has had on the industry and possible solutions.
After the pandemic outbreak, there have been a lot of issues afflicting the textile sector. Liquidity is a primary issue in the Indian context, which can’t be overcome without the support of government and other stakeholders. Garment manufacturers, distributors, suppliers and retailers are in need of soft loans and subsidies to brave and emerge stronger from these strong headwinds. India, in particular, holds out immense potential and has bright opportunities to come out with flying colours in this respect.
Shipping prices have gone up steeply over the recent past, as China is struggling to pacify all customer nations. India is slowly, but steadily becoming a supply hub to the international markets now. We, however, need to realise bigger volumes.
COVID-19 has not had much impact on sourcing of the textile sector and domestic markets. In Hindi, there is an axiom that roti, kapda aur makaan (food, clothing, and shelter) are the basic necessities of life that remain constant. With the purchasing power of people increasing in the recent times, we have shifted our focus from adult clothing to children’s attire. Adults, typically, buy a couple of clothes every year, but it doesn’t hold true with children. As kids keep growing year after year, you need to buy new clothes frequently to fit them well. So, it’s an evergreen market, which keeps the supply chain going.
Published on: 21/10/2021
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.
