×
116
Fashion Jobs
NIKE
sr. HR Operations Specialist
Permanent · Bengaluru
L'OREAL GROUP
Senior Manager - Digital Marketing & D2C, Kerastase
Permanent · Mumbai
NIKE
Lead Product Management – ed&a, Icc, India
Permanent · Bengaluru
NIKE
Senior Dynamic Application Security Tester – Cis, Icc, India
Permanent · Bengaluru
PUMA
Senior Manager - Golf Sales (Cpg-Cobra Puma Golf)
Permanent · Bengaluru
PUMA
Manager - Accounts Payable
Permanent · Bengaluru
PUMA
Senior Manager – Teamsport Sales
Permanent · Bengaluru
NIKE
Lead Technical Product Manager – p&m, Icc, India
Permanent · Bengaluru
PUMA
Manager – Warehouse Operations (Ecommerce)
Permanent · Gurugram
NIKE
Lead Product Manager, India – ed&a Icc
Permanent · Bengaluru
PVH
Manager, Business Solutions
Permanent · Bengaluru
NIKE
Identity And Access Management (Iam) Security Operations Engineer, India – Cis Icc
Permanent · Bengaluru
NIKE
Expert Security Incident Coordinator, India – Cis Icc
Permanent · Bengaluru
PUMA
Assistant Business Manager – Puma.Com
Permanent · Bengaluru
NIKE
Senior Software Engineer Iii – Retail Commerce Passplay, India - Consumer & Marketplace Icc
Permanent · Bengaluru
L'OREAL GROUP
Indirect Sourcing Manager
Permanent · Baddi
NIKE
Sap bi Lead Engineer – Sec Tech, Icc, India
Permanent · Bengaluru
NIYOSSHIC LUXURY CONSULTANCY
Social Media Intern
Internship · MUMBAI
SAAHRA
Graphic Design Summer Internships
Internship · NEW DELHI
HEMMING BEE
Fashion Production Intern
Internship · MUMBAI
HEMMING BEE
Fashion Production Intern
Internship · MUMBAI
BROADCAST THE COMPANY
Business Developement
Internship · MUMBAI
Published
Apr 1, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

India’s clothing industry could loose Rs 1 lakh crore due to lockdown, says CMAI

Published
Apr 1, 2020

India’s domestic apparel industry could loose around Rs 1 lakh crore ($13.54 billion) due to the ongoing lockdown mandated to stop the spread of coronavirus, according to the Clothing Manufacturers Association of India’s recent survey.

CMAI members are already planning significant downsizing as the anti-coronavirus lockdown halts cash flow

 
India’s clothing industry is in dire need of government support, according to the CMAI’s recent survey accessed by ET Bureau. Over 1,500 surveyed CMAI members said that they expect more than a 40% drop in demand after the lockdown ends resulting in losses of around Rs 1 lakh crore.
 
The drop in revenue for fashion brands could cause around 50 lakh job losses in the apparel industry, according to the CMAI survey. This would, in turn, effect other areas of the industry and could cause one crore job losses across both textiles and apparel businesses. Of the surveyed members, 80% said they need to immediately downsize to accommodate the halt to revenue and many surveyed businesses plan to reduce salaries of continuing employees. 

The lack of working capital many textile and clothing businesses now face will mean that factories will be slow to re-start after the lockdown ends. Many apparel companies said they only expect business to begin to return to normal in the 2022 financial year. 
 
The CMAI has asked Prime Minister Narendra Modi and the Ministries of Textiles and Finance to provide further aid to the apparel manufacturing industry during the current crisis.

The government has announced several measures for the industry and Textiles Minister Smriti Irani urged global buyers not to cancel apparel orders from India.

However, the CMAI has highlighted the need for support for micro, small, and medium enterprises, which make up the majority of all textile and clothing businesses. 

Copyright © 2021 FashionNetwork.com All rights reserved.