Harminder Sahni, Founder and Managing Director, Wazir Advisors has a word of advice. He has been studying the Indian textile and apparel industry for a long time now and feels that the the industry's export competitiveness is lacklustre. But it can be remedied if the industry tightens its belt and works aggressively in availing opportunities. Sahni points out a few germane facts about export and domestic markets, especially during the ongoing pandemic: "Take our export market. India is Europe and US-centric in this regard besides exporting large consignments of yarn to China, which eventually land up in these countries only.""These markets have recovered after the pandemic as the consumer demand is picking up quite remarkably. Indian export companies have started recovering better as compared to the suppliers in the domestic market. The domestic market is doing well in the home textile segment and some categories of yarn. But other sectors like denim are still struggling. Most apparel brands and large textile companies are hit big because most of the malls are shut. Also, apparel purchasing has become discretionary which may take time to get back on track but once it does, it will bounce back quickly," he adds.
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