The Demonetisation Dilemma
It was an absolute end of the year shocker for the Apparel Industry. Demonetisation came as a complete surprise and had vocal supporters as well as bitter critics. Kashmira Mirza and Sayoni Bhaduri speak to the Stakeholders on the ground to get a sense o
Stakeholders at the 64th NGF give their opinions about Demonetisation
Post-Demonestisation, we aren’t very optimistic so we don’t expect the rush to be similar to last year. This is our 10th year at the NGF. We aren’t looking at bookings per se, we are here to network mainly.
RAJEEV GALA, Anora Fashions
Demonetisation is good for all in the long term. It was a challenge for everyone in the beginning but it has settled down now. This business is more of passion for me than just a business.
ASHOK THAKKAR, CHINTAMANI’S NX
DEMONETISATION HAS NOT IMPACTED US. WE ARE HAPPY WITH IT. Mehul Baua, D’costa Textiles
Money is stuck! That is one big result of Demonetisation. Payments and funds from clients are not coming through and/ or have slowed down. In the long run, however, it is a very good decision. Businesses will be conducted all in white and digitalisation will lead to ease of transactions. TUSHAR BAVISKAR, Rectus Clothing
“Demonetisation has definitely impacted us. The sales have dropped down to 40 per cent compared to last year. After every downfall, there is a rise, which is why we participated positively to look towards a brighter future. India is the main supplier/manufacturer of ethnic wear and the market is never going to go down. It is one of our daily necessities. This Fair opens us to a lot of buyers and gives us lot of knowledge of different buyers and connects at a pan India and international level.” MADIHA FAROOQ, ASBAAB
“Demonetisation has affected us. This quarter was not so good for all the brands; especially for my brand. However, let’s hope for the best. From April onwards, they should do well.” RAKESH KUKREJA, ISVARAH APPARELS
DEMONETISATION HAS NOT IMPACTED US; WE ARE IN FAVOUR OF IT. RAJU KUBADIA, Sunkey Duo
I am in favour of Demonetisation. It has not affected us negatively at all.
CHANDNI M GADA, Rinkoo
Demonetisation has made a lot of difference in the Industry due to the massive cash crunch. When the decision was implemented, we had a lot of problem with the labour at our facilities, procuring material and getting the job done. For two months, it was tough time. MEENU MEENA, SAVI FASHIONS
Demonetisation has not impacted us much. KAMAL MEHTA, U JUNIOR BY UVAAM
“I am in favour of Demonetisation in the long run.” PRAGNESH SHAH, SHLOK
Demonetisation has affected us but not that much.
JANIL GALA, SOFT TOUCH