MARKETUPDATE There is no doubt that nearly after two years of slowdown due to the pandemic the business is coming back to pre Covid levels in fact, the current situation signals that India is seeing a lot of business diverting from China. A big change, however, is that the buyers all over the world no longer want to gamble upon keeping themselves stuck in outsourcing from only one or two destinations like China or Bangladesh and this opens an array of opportunities for Indian apparel exporters.
Orders Shifting to India…
CAN INDIA TAP THE OPPORTUNITY?
T
eam Perfect Sourcing spoke to the industry about the current situation of orders from India and opportunities. “Of course it is true that a lot of orders are coming towards India and one of the reasons is that buyers want to reduce dependence on China, however, with ongoing challenges of labour shortage and raw material getting expensive it is difficult to tap the opportunity,” said Rajeev Bansal, MD, Celestial Knits. Bangalore based company Indian Design also reported an increase in demand for products and enhanced orders. “Yes certainly there is an increase in demand at present,” confirmed the MD of company
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Naseer Humayun. A lot of changes are being noticed in the sourcing pattern as well. “2021 was overall a fantastic year in terms of bookings, however, it is a fact that the pressure to move faster than ever is prevalent. We have witnessed that most buyers are booking at the last minute due to the market uncertainty, which gives us only 50-75 days for production even for fully embellished products,” said Linda Augusstson, Founder, Continuum Buying Agency Buying Agency. “The concept of streamlining business for optimized effectiveness is also happening as buyers
