SURVEY ON APPAREL & TEXTILE INDUSTRY CURRENT STATUS
Industry optimistic about good days in the coming year Gst & policy changes make a deep impact on industry sentiments
On the employment expectations, the answers were again mixed with 40% expecting increase while 33% expecting decrease 67% of the respondents view increasing wages as the major constraint to business growth.
Business Confidence Index is a barometer of what businesses think is going to happen in the near future. In India, so far there has been no textile and apparel sector specific confidence index which could provide forward looking data set or ‘lead indicators’ about the sector’s anticipated performance. With an aim to fill this gap, Wazir Advisors has commissioned a biannual Business Confidence Survey for the Indian textile and apparel industry. The first survey was undertaken in the month of November 2017 wherein responses from companies across size, sub-segment and geography were obtained using a structured questionnaire. The survey summarizes the performance expectations of firms over the next 6-months for Indian economy, textile and apparel industry; and their own organization. 80% of the respondents were involved in garment manufacturing.
In the survey undertaken 40% of the respondents had less than 100 cr. of revenue; 54% of the respondents were export oriented; 73% of the respondents employed more than 500 persons and