‘RUNway to Skilled India’ the book authored by Dr Darlie O Koshy, DG & CEO, ATDC India will be launched at the International Craft Week’ on from February 18-21, 2021. The formal launch of the book on February 19, 2021, will be attended by Mahendra Nath Pandey, Minister of Skill Development & Entrepreneurship as the chief guest.

The book focuses on India's skilling efforts and how RUN: Re-skilling, Up-Skilling. New-Skilling (RUN SUCCESS) can value add to India's economy while empowering youth and women. This endeavour aims to bring into focus India’s largest traditional skill legacy through crafts which are even today practiced by numerous local communities and have continued to possess the tacit and explicit knowhow and insights learned through ages exemplifying why is so important for India. The book will be available in both hardbound and paperback.

Endorsements came from many of the industry experts, during a prelaunch webinar organized by DFU Publications, such as T.V. Mohandas Pai , Chairman, Aarin Capital and Manipal Global Education says, "The book is a persuasive call to rediscover the innate skills germane to our people and to reorient the skill development in the Country on a sustainable track" and "Dr. Koshy’s new book is a convincing advocacy of the concept of Re-skilling, Up- Skiiling, New skilling, ‘RUN’ as Dr. Darlie Koshy calls it, and the way it has been presented and argued has not been done before", says Ajit Seth, a Former Cabinet Secretary, GoI, likewise among other says Dr. Subroto Bagchi, Chairman of Odisha Skill Development Authority, "I wanted to tell you that I love every sentence of the book. A must read for everyone in the Skill World!”

Dr. (Prof.) Darlie O. Koshy is a visionary Educationist, persuasive administrator, International Speaker and noted author of books like “India Design Edge”. Dr Koshy has an experience spanning 43 years out of which 33 years have been with NIFT, NID, IAM and ATDC (of AEPC).

With the pandemic devastating several businesses and industries in 2020, many retail and offline players are offering customized services online like the Cloud, etc. Prominent amongst these is The Pant Project which offers customized trousers at reasonable rates. Each trouser is personalized according to customers’ measurements and their unique styling preferences. They can choose between slim, tapered and regular (relaxed) fit to find a pair of pants that fit perfectly to their body type.

The customers can add a personal touch to each of these trousers and have their initials monogrammed onto the trouser at no additional cost. The Pant Project also provides free consultation by their personal stylists before and after purchase, where clients can consult the stylist on the ideal fabrics, fits, styles and customizations as per their needs.

Similarly, Delhi-based NAAZ- The Designer Boutique offers consultation services virtually through the digital medium. The boutique provides customers with a demo picture and the size chart as well. The products are made to order and of particular sizes and requirements.

Textiles major Raymond’s board has approved raising upto Rs 200 crore through non-convertible debentures (NCDs) on a private placement basis. A meeting of the committee of board of directors of the company was held recently. The committee of directors at the said meeting have approved the issue of non-convertible debentures for an amount up to Rs 200 crore on private placement basis," Raymond informed in a regulatory filing.

In its third quarter ending December 31, 2020, V2 Retail reported total income of Rs.228.46 crore during the period ended December 31, 2020 as compared to Rs.90.30 crore during the period ended September 30, 2020. The company posted a net profit of Rs 13.81 crore as against a loss Rs 7.31 crore during the quarter ending September 30, 2020. EPS increased to Rs.4.04 for the period ended December 31, 2020 as compared to Rs.2.14 for the period ended September 30, 2020.

On yearly basis, V2 Retail reported total income of Rs.228.46 crore during the period ended December 31, 2020 as compared to Rs.220.36 crore during the period ended December 31, 2019. It posted a net profit of Rs 13.81 crore during the period ending December 31, 2020 as against net loss of Rs 20.75 crore duing the period ending December 31, 2019.

Its EPS declined to Rs.4.04 for the period ended December 31, 2020 as compared to Rs.6.09 for the period ended December 31, 2019.

The pandemic has brought in a shift in consumer behaviour, providing a major fillip to India’s e-commerce industry that is now poised to touch $90-100 billion in the next 3-4 years. While challenges brought in by the pandemic impacted businesses, many new avenues also opened up.

The opportunities that modern retail present are significant for businesses of all sizes, including the kirana ecosystem. E-commerce platforms are also doing its best to help small businesses and artisans embrace the power of technology and be a part of the modern retail opportunity.

E-commerce has been gaining traction over the years and in 2019, more than 10 per cent Indians had already shopped something online. This trend was further accelerated after the lockdown forced people to stay indoors. Many turned to online platforms for buying grocery and other essentials during this time and have continued to do so after the lockdown was lifted.

Almost 100 per cent pin codes in India have seen e-commerce adoption. This includes categories like fashion, appliances, furniture, etc. More than 60 per cent of transactions and orders in India come from tier two cities and smaller towns. Industry experts still believe that they are scratching the surface when it comes to e-commerce adoption in India. Out that only 3.5 per cent of Indian commerce is online as compared to more than 25 per cent e-commerce adoption in China, and other developed economies that have 10-25 per cent adoption rates.

COVID-induced spike in e-commerce has actually changed several categories, there is a new normal. And the meaning of essential categories has also completely changed. It is believed that Indian e-commerce economy has seen a permanent shift for the positive.

Over the next few years, Indian e-commerce economy will be bigger than modern retail today. The pre-COVID growth rates of e-commerce were roughly 26-27 per cent but if you look at the post-COVID estimates, it has gone closer to 30 per cent. In the next three to four years, what the industry was estimating the e-commerce market size was roughly in the range of about USD 50-60 billion, today, the same numbers are actually close to USD 90-100 billion.

In response to increased public health concerns with on-going pandemic, lifestyle and fashion brand Roadster launched clothing and footwear made from anti-viral textiles. The brand has also expanded its product selection to launch a line of Augmented Reality Tees.

Roadster’s new line of AR T-shirts was developed by fashion e-commerce platform Myntra’s Innovation Labs design team. The new range of graphic tees feature a readable AR code which people can scan on the Myntra app on Android phones to bring the graphic to life with sounds and visuals designed to give the experience of being on the road.

The collection features six different scannable designs and the 100 per cent cotton T-shirts. The collection is designed to engage wearers, encourage them to use the Myntra app, and promote Roadster’s identity as a brand for riders. The anti-viral clothing line launched by the brand also includes footwear made from anti-viral textiles designed to kill 99.4 per cent of viral infections they come into contact with. The line features jackets, t-shirts, sneakers, and sweaters among other garments.

Roadster also embraced the shift to virtual events in the ‘new normal’ by holding an online music contest ‘Roadster Ok Please’ last year.

Gautam Singhania, Chairman & Managing Director, Raymond believes the Budget would boost India’s economic growth besides easing the process of doing business in the country. Singhania particularly appreciated the government’s decision to set up seven new textile parks under the Mega Investment Textile Parks scheme.

The increased outlays on infrastructure would help India create world-class infrastructure, he said. He also welcomed the government’s move to double the allocation for MSMEs to Rs 15,700 crore.

Singhania also hailed the government’s decision to introduce an alternate debt resolution mechanism and a special framework. The government also proposes to reduce the margin money requirement from 25 percent to 15 percent for startups.

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And IBEF report suggests India is the world’s fifth-largest global destination in the retail space. The entry of top players has made the sector one of the most dynamic and fast-paced with total consumption expenditure expected to be worth $3,600 billion by 2020 from $1,824 billion in 2017. It accounts for over 10 per cent of the GDP and around eight per cent of employment.

As per United Nations Conference on Trade and Development's Business-to-Consumer (B2C) E-commerce Index 2019 India stood 73rd and is the fifth largest global destination in retail spaces; 63rd in World Bank’s Doing Business 2019.

A promising and growing market

The IBEF report highlights India’s retail sector was worth $950 billion in 2018 growing at CAGR of 13 per cent and it is expected to reach $1.1 trillion by 2020. Online retail sales were forecasted to grow 31 per cent annually to $32.70 billion in 2018. Revenue were projected at reach $60 billion by 2020.

Revenue from brick and mortar retail was expected to reach Rs 10,000-12,000 crore ($1.39-2.77 billion) in FY20. And as per consulting firm RedSeer’s study the retail sector was expected to recover 80 per cent of pre-Covid revenue ($780 billion) by end-2020. In fact, after a 19 per cent drop in the January-March 2020 quarter, the FMCG industry recovered in July-September 2020 quarter with a y-o-y growth of 1.6 per cent.

As per Department for Promotion of Industry and Internal Trade from April 2000-June 2020, the retail sector received FDI equity inflow worth $ 2.17 billion. In 2019 PE funds worth $970 million were channelled to the retail sector. Many global PE funds have been attracted by Indian retail for example, in September 2020, US private equity firm Silver Lake announced plans to invest Rs 7,500 crore ($1.00 billion) in Reliance Retail, the second billion-dollar investment by Silver Lake in a Reliance Industries subsidiary after the $1.35 billion investment in Jio Platforms in 2020. Walmart Investments Cooperative invested Rs 2.75 billion ($37.68 million) in Wal-Mart India.

And what given the sector an edge are the various government initiatives to improve the industry. One of these is allowing 100 per cent FDI in online retail and services through the automatic route, thereby providing clarity on the existing businesses of e-commerce companies operating in India.

As ecommerce expands in the country, retailers need to leverage digital channels, which would push them to spend less on expensive real estate while reaching out to more customers in smaller cities. By 2021, traditional retail is expected to hold 75 per cent share with organised making up 18 per cent and e-commerce 7 per cent of the total retail market. The long-term outlook for the industry is positive, with rising income, favourable demographics, entry of foreign players, and increasing urbanisation, sums up IBEF.

India is considering revising its foreign investment rules for e-commerce, a move that could compel players, including Amazon, to restructure their ties with some major sellers. The discussions coincide with a growing number of complaints from India's bricks-and-mortar retailers, which have for years accused Amazon and Walmart-controlled Flipkart of creating complex structures to bypass federal rules.

India only allows foreign e-commerce players to operate as a marketplace to connect buyers and sellers. It prohibits them from holding inventories of goods and directly selling them on their platforms.

Amazon and Flipkart were last hit in December 2018 by investment rule changes that barred foreign e-commerce players from offering products from sellers in which they have an equity stake.

Now, the government is considering adjusting some provisions to prevent those arrangements, even if the e-commerce firm holds an indirect stake in a seller through its parent. The changes could hurt Amazon as it holds indirect equity stakes in two of its biggest online sellers in India.

According to a statement given by Amazon, e-commerce created huge job opportunities and is a significant contributor to economic growth. Any major alterations to the policy will adversely impact small- and medium-sized businesses. India's e-commerce retail market is seen growing to $200 billion a year by 2026, from $30 billion in 2019, the country's investment promotion agency Invest India estimates.

Among other changes, the government is considering changes that would effectively prohibit online sales by a seller who purchases goods from the e-commerce entity or its group firm, and then sells them on the entity's websites. Under existing rules, a seller is free to buy up to 25 per cent of its inventory from the e-commerce entity's wholesale or another unit and then sell them on the e-commerce website.

Focusing on health and well-being of citizens, physical and financial capital and infrastructure, inclusive development for aspirational India, innovation and R&D, minimum government, maximum governance are some of the highlights of the Union Budget for the financial year 2021-22.

Finance Minister, Nirmala Sitharaman allocated Rs 15,700 crore for the Ministry of Micro, Small and Medium Enterprises (MSME) sector. She also proposed to reduce the money requirement under the Stand Up India scheme for the Scheduled Castes and Scheduled Tribes from 25 per cent to 15 per cent besides approving loans for activities in allied activities in agriculture.

Scheme for new textile parks

In view of global pandemic, the Budget also introduced a new scheme for setting up mega textile parks in the country. These parks will help the government position India as a fully integrated, globally competitive manufacturing and exporting hub for the sector.

Under this scheme, the government has sanctioned 59 integrated textile parks, of which 22 have been completed. The textile ministry also plans to set up a Mega Integrated Textile Region and Apparel (MITRA) Park, spread over 1,000 acres with state-of-the-art infrastructure, common utilities and Research and Development (R&D) lab. The government has also approved production-linked incentive (PLI) scheme for 10 key sectors including textile and automobiles which would help India become self-reliant, boost manufacturing and enhance exports. The scheme takes the total government outlay for such incentives to nearly Rs 2 lakh crore over a five-year period.

Apparel and denim maker, Kewal Kiran Clothing reported a six per cent decline in net profit to Rs 11 crore ($1.5 million) in the quarter ended December 2020, as against Rs 12 crore it reported in the corresponding quarter last year.

According to a brand statement Covid-19 outbreak across the globe and in India has resulted unprecedented steps to combat it. Consequent to the nationwide lockdown from March 23, 2020, the company had to shut clown factories and stores and all operational activities across locations, impacting the business during the quarter.

Kewal Kiran owns brands like Killer, Integriti, LawmanPg3, Easies, and Desi Belle. The company currently has 336 retail stores 210 cities across 25 states and sells on leading e-commerce platforms across India.

Jeans brands Lee and Wrangler are planning to transform their India businesses into omni-channel entities. This is being done to drive growth and double sales over the next two years by extensively focusing on online channels. The US-based Kontoor Brands is moving Lee and Wrangler business from a fully owned Indian subsidiary to a franchise model. The company has signed a licensing deal with Bengaluru-based Ace Turtle, which provides ecommerce solutions to traditional retailers.

Kontoor is also looking to shut a few stores in India and focusing on rapid growth of fashion products online. The decision to partner Ace Turtle in India is part of a strategy to adapt to a market that is increasingly online and ensure the brands are accessible to customers across the country through a combination of ecommerce and physical stores.

The partnership comes at a time when fashion and lifestyle brands including Puma, Levi’s and Jack & Joes have reported doubling online businesses, as consumers avoided malls and high streets amid fears of Covid-19. Retailers said the pandemic has leapfrogged their online sales by five years and much of the growth is there to stick.

In coming months, Ace Turtle will upgrade store technology to expose the brick-and-mortar inventories on upcoming Lee and Wrangler webstores, as well as on ecommerce sites like Flipkart, Amazon and Myntra.

Lee and Wrangler currently source almost 90 per cent apparels from within India and Ace Turtle plans to increase local sourcing to about 95 per cent within a year. The supply chain will be ramped up towards omni-channel retailing with a quick turnaround time as per online demand.