The IMF, World Bank, Moody’s, McKinsey, Forbes, HSBC, Morgan Stanley and the government’s own data on economic survey of the country suggest that India could grow at a rate between 7 to 7.5 per cent, which would surpass China rate of growth, which is predicted to be between 6 to 6.5 per cent.
We are on our way to becoming the largest growing major economy in the world—a place we abdicated to China since 2006.
With major economic reforms behind us like the GST and the Govt. drive to curb corruption through demon, the direct benefit transfer system through Aadhaar, the constitution of RERA to regulate the construction industry, the money laundering bill, the benami transaction act, the SIT constituted on Black Money, ending of safe havens in Europe, treaty with the Swiss government to part with information on all account holders in Swiss banks, which was out of the purview of all previous government cash funding to political parties reduced from INR 20,000 to INR 2000. So, this government has walked the talk, which no previous government in India could do to date.
The difference on ground is being felt by the people of this country in all walks of life. This has given tremendous confidence to the investors who are seeing a real change happening, which is not cosmetic or just for the time being. It is really tackling the problems of corruption and ineptitude, which have eaten the very vitals of our country and destroyed every institution by systemic apathy and tolerance to the chalta hain attitude, which is truly endemic to this great nation.
It is rare that all the rating and economic agencies are unanimous in their decision that India is a rising star on the global front. With Europe and USA also showing green shoots of recovery quarter after quarter, the world is expecting a faster economic recovery, which has dogged the world for the last 8 to 10 years, ever since the Lehmann debacle at the Wall Street.
Coming back to our industry, I was reading a report of the men’s innerwear brands’ performance over the last few quarters and the continued growth of jockey vis-a-vis other Indian companies. But Amul has surprised me with their strong performance and has come up strongly and could pose a challenge going ahead. They have a strong brand portfolio in the men’s but they still have to develop their women’s range and that where they will challenge the fiefdom of many players.
The market is bracing ahead for a strong summer ahead which is the biggest growth period for inner wear on All India basis and the companies are ready with all their arsenal at their behest, their war chest is ready, the production is on full swing, so also the stocks are being maintained for replenishment. It will be interesting to watch who forges ahead and adds how much to their top line growth.
This issue is replete with information that will help any trade professional to get in to the grove and know a lot more of what happening here and around the world.
we want to solicit from our readers as to what they would like us to cover more, so give us the topics that you would like us uncover but within the purview of intimate apparel.
So I wish to thank every one for their good wishes on holi and take this opportunity to greet every one on the forthcoming Bihu, Easter, Gudi Padwa, Baishaki, Thrissur Pooram etc.