Apparel August 2019 Apparel August 2019 issue | Page 10

FROM THE PRESIDENT’S DESK Dear Friends, By the time you read this issue, most of you would be completing the analysis of your order books—orders placed and received for the Festive season, not the least of it the business transacted during the recently concluded 69th NGF. Quite frankly, the scale of business conducted at the Fair exceeded expectations. Undoubtedly, the visitor turnout was marginally lower than last year; but the Retailers who did come, seemed to be full of positivity and confidence—and it showed in the orders placed. I would still urge caution. The economic indicators do not seem encouraging. Consumer sentiments are low, and the daily headlines are not helping. I would suggest that both Manufacturers and Retailers play safe, and be conservative in their planning. Excessive Inventory is one of the most common causes of business failures— and while I am not indulging in fear-mongering here, I would certainly recommend caution for the coming months. The Government has sent a shocker down the Exporters’ back by its sudden decision to withdraw Merchandise Exports from India Scheme (MEIS) with immediate effect. We are aware that this scheme was not in line with the requirements of the World Trade Organisation (WTO), and had to go some day. However, what was inexplicable was the suddenness with which the decision was taken—in spite of the vigorous protests by all the concerned Trade Bodies and Associations. Frankly, this has been the bane of our Government Policies—the lack of certainty and longevity. And this is not restricted to any particular Government. I do hope the powers that be reconsider and extend the Scheme till at least March ’20. Meanwhile, CMAI continues its pathbreaking activities and projects. The Market Study, which was launched in April this year, is complete, and we should be releasing the Report this month. The INDIASize Project, in collaboration with National Institute of Technology (NIFT) is back on track, and a pilot study should be taking place in October. Experts from top Brands, as well as Retailers are joining hands to assist CMAI in this study. CMAI is also joining hands with Lakmé Fashion Week towards bringing about more Sustainable Fashion. More about this in the next edition. In conclusion, all the best for the coming Festive Season! RAHUL MEHTA Help us improve Apparel. Please send in your suggestions and feedback to [email protected] 4 I APPAREL I August 2019