Edi­tor’s Let­ter

Shoes & Accessories - - News - AMITABH TANEJA Edi­tor-in-chief

The dust has some­what set­tled, yet the con­fu­sion lingers and it will con­tinue to do so. Sev­eral months af­ter GST was in­tro­duced, the in­dus­try is still deal­ing with it. So the suc­cess or the suc­cess­ful im­ple­men­ta­tion of the new tax re­form re­mains to be seen.

This be­ing one main rea­son, apart from the lin­ger­ing im­pact of de­mon­e­ti­za­tion, the econ­omy has fi­nally emerged vis­i­bly scathed. The fact that eco­nomic growth is ex­pected to slow down doesn’t bore well. This has come at a time when China, af­ter hav­ing en­joyed continuous out­stand­ing growth, has re­cently an­nounced re­al­is­ti­cally that it won’t aim dou­ble-digit growth. The neigh­bour­ing gi­ant has achieved eco­nomic mir­a­cle while en­sur­ing that the con­sis­tency growth was main­tained. Un­for­tu­nately, the In­dian story has been rather dis­ap­point­ing this time. What most thought would fix some of the is­sues has not been done, and it is likely, much to our dis­may, that it will take more time.

Whether it has ad­versely af­fected or has cre­ated a ram­pant con­fu­sion, the sim­ple and gen­eral am­bi­tion re­mains the same: growth. This is re­flected in the sin­cere and hard at­tempts the in­dus­try has wit­nessed in the re­cent time as well as in what it has been plan­ning to ac­com­plish. One such fine in­stance is Meet at Agra fair. De­spite the bleak at­mos­phere in the in­dus­try, ev­ery stake­holder Shoes & Ac­ces­sories has spo­ken to or in­ter­acted with ex­pressed vis­i­ble op­ti­mism. Con­fused though by the new tax re­form, many in­dus­try lead­ers see it as some­thing that will ben­e­fit the econ­omy in the long run, and for it they are will­ing to bear the short term pain. Sim­i­larly, brands like Wooba’s and ID’S op­ti­mism only rein­vig­o­rates that new ideas can ac­tu­ally fos­ter.

Weigh­ing the de­ter­mi­na­tion and op­ti­mism, there is so much the in­dus­try has to look for­ward to. It won’t be any ex­ag­ger­a­tion to con­clude that the in­dus­try is set to sail through the choppy waters, and all will emerge stronger and, of course, bet­ter ex­pe­ri­enced.

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