Will tight market conditions impact NIFT placements?
National Institute of Fashion Technology (NIFT), India’s premium institute for fashion and garment technology is organizing its ‘campus placement week’ at its 7 centres from 23rd April to 5th May. Taking into consideration the current market conditions, especially in apparel exports which are on a declining trend, many believe that it may have negative impact on NIFT’s placement also. This year, out of 2,750 pass-out students, nearly 2,500 opted to go for placement while rest 250 students are going for other options like higher studies, start-ups or are already selected in preplacement. “Yes, overall business situation is tight and companies are not very enthusiastic to invest in fresh talent, but it is too early to say that this will have an impact on placements. We have invited nearly 2,400 companies including apparel exporters, domestic brands, retailers, interior designers, etc. This year, a company like Zomato (restaurant search and discovery service) is also participating in placement,” informed Amit Kumar Anjanee, Unit Incharge - Industry & Alumni Affairs, NIFT, Chennai.
Some industry watchers and HR Managers of the apparel industry feel that this difficult scenario may not only see less hiring but will also have a negative impact on the salary packages. “Overall in the industry, it is becoming difficult to retain existing talent, so it will obviously have an impact on new hiring. I feel that the packages could be reduced by nearly 20 to 25 per cent for fresh talent,” shared R. Gaur, VP – HR, Radnik Exports, Delhi. Radnik Exports is among the respected apparel export house of Delhi-NCR that participates enthusiastically during the placement process. According to a report of the Ministry of Textiles, the average annual salary during campus placement 2017 for the students from Master’s programme was
Rs. 4.62 lakh per annum whereas for the Bachelor’s programme, the same was Rs. 3.87 lakh per annum. Among the 10 various programmes, placement percentage varied from 25 per cent to 83 per cent.
In 2017, apart from top companies from the textile industry, companies like Dorling Kindersley (publishing) also participated in the placement process.