MIXED FEELINGS TOWARDS GLOBAL RECESSION
The global economic recession has affected Asian garment exporters, and Indian garment exporters pointed to a looming crisis.
The global recession has hit orders and price realisation. Our quarterly turnover is down from Rs 300 crores to Rs 250 crores. Orders are going to Vietnam and Bangaladesh, which have lower costs.
Particularly small-scale units, may be pushed to the wall. Already hit by underutilisation of capacity, these small units may face threat of problems.
Nonetheless, Bangalore, One of India's major apparel export centres, reported remaining intact so far.
There was a slowdown in work between past months and in the following months the situation seems to have improved.
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