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Surviving Import Threats And Export Constraints
Inner Secrets
|May 2018
A BRIEF STUDY ON CURRENT STATURE OF INTIMATE APPAREL MARKET. THE INTIMATE APPAREL INDUSTRY IS THE ONE OF THE MOST PROMISING INDUSTRIES OF THE FUTURE. THE INCREASING CONSUMPTION OF INNERWEAR APPARELS IN INDIA AND ABROAD HAS FACILITATED TO THE BOOM IN THE SECTOR. BUT THE RECENT STIR IN COUNTRY’S TAX SYSTEM AND BUSINESS POLICIES HAS OVERTURNED THE BUSINESS FINANCIALS ACROSS ALL THE SECTORS IN THE COUNTRY. BUSINESS OPERATIONS ARE YET STRUGGLING TO SETTLE IN THIS NEW FINANCIAL SCENARIO. INTIMATE APPAREL INDUSTRY IS NO DIFFERENT. IT MAY BE RECORDING A GROWTH EVERY SEASON BUT, YET, THE INDUSTRY DOES NOT SEEM TO BE WORKING ON A FULL THROTTLE. INNERSECRETS, BRINGS TO YOU A BRIEF STUDY ON THE INTIMATE APPAREL MARKETS’ CURRENT FINANCIALS AND ITS TRUE STRUGGLES, WHICH IF DENOTED CAN PULL IN A NEW ERA OF PROFITS FOR THE INDUSTRY.
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WHERE DO WE STAND? - THE CURRENT SCENARIO.
According to ICICI Direct Research, Indian Intimate Apparel Industry is currently valued at around Rs 40,000 crore and is expected to grow at a rate of 13 percent annually. It also states that by 2020, it will become a Rs. 43,700 crore industry. Moving ahead with these positive indicators of the market, the Government of India has also extended its support with its new Textile Polity 2018 that ensures benefits to the manufacturer like subsidy, capital and assistance for setting up zero liquid discharge to make manufacturing eco-friendly.
GROWTH ON THE MENU, BUT, LOSSES SERVED COLD.
According to Apparel Exports Promotion Council (AEPC) latest statistics, the first quarter of March 2018 registered a sharp decline of 17.78 percent in exports of Indian Apparel as compared to March 2017. The Indian ready-Made Garment (RMG) exports for the month of March 2018, dropped to the tune of USD 1.49 billion (approx.) in March 2018 against the corresponding month of February 2017, which was USD 1.81 billion (approx.). It witnessed a decline of whopping 18.85 percent.
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