Industry insiders predict a 25–30 per cent decline in order bookings for the next holiday season for domestic clothing producers. Rahul Mehta, Chief Mentor, Clothing Manufacturers Association of India (CMAI), stated that the sector is now experiencing a slowdown and that producers could expect a fall in orders of between 25 and 30 percent this winter. The anticipated downturn in demand was noted by several manufacturers who were present at the CMAI North India garment fair 2023 earlier this month. Mehta noted the general direction of the market, stating that the slowdown in orders for the next season is consistent with the 20–30 per cent decline in sales that manufacturers have recorded for the current summer season. Over the previous two years, the majority of clothes merchants have accepted price increases of roughly 15-20 per cent.

Source: Economic Times June 13, 2023 05:55 UTC