For Indian garment makers, second Covid-19 wave unstitches revenue recovery

parker-burchfield-tvG4WvjgsEY-unsplash-scaled.jpg

The second wave of the Covid-19 pandemic has unstitched demand recovery in India’s ready-made garments sector, ratings agency CRISIL said, adding that it expected the segment to grow at 15-20% now this fiscal, or almost half the 28-33% expected earlier. Domestic demand, which accounts for almost three quarters of overall demand, has been severely affected […]

Read more

Cotton prices softer, but Indian garment makers’ revenues to decline by 25-30% this fiscal

cotton.jpg

Despite softer cotton prices, revenues of Indian garment makers are set to decline by 25%-30% this fiscal year due to covid’s impact on demand, according to rating agency CRISIL. The impact will be felt more by garment exporters due to stretched receivables and tepid discretionary spending in the US and the European Union, according to an […]

Read more