FROM THE PRESIDENT’S DESK
This platform is hardly the appropriate one to discuss politics, but the Gujarat Election result does throw up a relevant conclusion – that the demons of Demonetisation and GST were either nonexistent, or exaggerated, or at least, have been now overcome.
I am referring to this from a limited perspective of our Industry’s belief, that these two economic reforms were largely, if not wholly, responsible for the apparent slow down we are currently going through. If most of urban Gujarat, consisting largely of SMEs, Traders, and Textile related businesses, voted for the Government that has introduced these reforms, surely they are not feeling as much pain as we seem to have concluded.
Undoubtedly, several of the amendments brought about by the GST Council were steps in the right direction, and the Textile Industry has seen a fair amount of relief – especially in the procedures. A lot more still needs to be done, and CMAI is continuing its active interaction with the Government and the Council authorities to address these issues. With the exceptional responsiveness shown by the Government, I am hopeful that the Industry’s concerns will be addressed sooner or later.
The Export Awards of AEPC held recently saw a unique Panel Discussion, where Suresh Prabhu, Smriti Irani, Amitabh Kant from the Government and Ashok Rajani along with Premal Udani from the Industry participated. It was an outstanding panel and did not disappoint in terms of the high level of ideas discussed. AEPC deserves credit for thinking of this format and getting these stalwarts together. Well done!
In my last write up I had mentioned that there was some talk of postponing the EOSS this time, in view of the excellent winter being felt in most of North and East India. Even the grand old city of Mumbai was left shivering at 15 degrees! And true to my belief, most of the Retailers and Brands did postpone their EOSS by a week or so – though one more week of full price sales would have done wonders to the bottom line! But at least, a beginning has been made. Hopefully, further rationalisation will be seen in the coming EOSS…
The bookings for participation in the coming NGF have surpassed all expectations, and as I write we have already touched around 350 applications. This is a record for our January Fairs, and hopefully, the Fair Committee will be able to accommodate all the applications received. But this is another indicator to the fact that the Industry is slowly inching back to normalcy, and hopefully, we shall once again see the double digit growth we were witnessing for years together before the current slowdown.