Apparel April 2019 Apparel May 2019 issue | Page 30

FEATURE
POLITICS OF TRADE
Samir Alam analyses the effects of the schemes announced during the elections
by various political parties on the Indian apparel industry.
The Indian textile and apparel industry has had
its share of hard times in the last five years,
from the unexpected and surprising setback
brought on by demonetisation to the convoluted
Goods and Services Tax reform. For the
farmers, manufacturers, labourers, traders, and
consumers in the industry, the Government’s
actions have made lives harder in the name of
the greater good. In appreciation of this, most
of the industry has held steadfast and made the
sacrifice needed to accept these steps and do
their part in supporting the nation as a whole.
But as time has shown, demonetisation had
little to zero impact in curbing or revealing black
money in the country and could very well be
considered a wasted effort that came at a steep
cost. Both of these schemes had a significant
impact on the industry and its people. Just like
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May 2019
most of the nation, the apparel and textile industry
faced an immense cash crunch during this period
which made conducting business far more
difficult. Similarly, the planned tax reform also took
off to a bumpy start and seized the time and effort
of millions of businesses, further slowing down
growth. There is no doubt that the apparel and
textile industry holds a pivotal role in not only the
national economy, but also the day-to-day lives of
millions of people.
As a result, it comes as no surprise then that
this election season has witnessed a deluge of
schemes and promises emerging from political
parties, in an attempt to win favour with these
widespread constituencies. And while this is by
itself not unusual, we have to consider whether
the schemes being offered are meaningful and
lasting or simply token offerings meant to sway