NEW DELHI – New research by the Clothing Manufacturers Association of India (CMAI) paints a concerning picture for garment suppliers in the country in the coming months, as an indicative survey finds that 95 per cent of respondents expect operations to run at less than 50 per cent capacity throughout the second quarter.
Having already been hurt by retracted brand orders with a value of billions, native suppliers are expected to weather a turbulent year ahead as the industry builds back momentum once more. CMAI chief mentor Rahul Mehta says he expected job cuts of up to 25 to 30 per cent over the next 12 months, “even in the companies that somehow survive”.
