Spring-Summer Collections 2021 to fetch Rs 15,000 cr revenues: Analysts
As per industry analyst, the Spring-Summer collections 2021 -- between February and June --- will fetch the industry at least Rs 15,000 crore, higher than the Rs 10,000 crore of a usual year, considering the lag throughout the year.
Around 600 garment export units had closed and the units in Noida suffered a collective loss of over Rs 3,000 crore after the outbreak, says a Hindustan Times report.
The industry has been seeing green shoots of late, recording a rise in exports in September after several months of continuous fall on the back of the coronavirus disease Lalit Thukral, President, Noida Apparel Export Cluster (NAEC), said that there was a 90 per cent fall in orders in April this year, which gradually reduced over the last six months. It eventually recorded a 10 per cent rise last month over the same period last year, which indicates that the apparel sector is now on a growth-recovery path.
Thukral, who is also the vice-chairman of bi-annual India International Garment Fair (IIGF), said that 65th edition of IIGF is virtual and was inaugurated by union textile minister Smriti Irani on October 15. This month-long fair aims to help Indian apparel and accessories exporters, who will showcase their latest designs and apparel for Spring-Summer 2021 here. It is expected that 10,000 buyers will be connecting and networking with over 200 participants in the entire span of the fair this time.
