After witnessing a major setback in the past two quarters owing to the Covid-19 pandemic, Indian apparel players are banking on the upcoming festive season to recover meaningfully from their all-time low sales. The apparel exporters have already witnessed an encouraging build-up in their order book position amid expectations of a spike in the festive season sales in the international markets. In its recent report titled – From disruption to the new normal: Indian apparel sector pins hopes on festive buying, ICRA projects the Indian apparel exporters to report a turnover decline of ~20-25% in FY2021, compared to a steeper ~30- 40% decline in revenues of companies focused on the domestic market. This follows a much steeper decline witnessed by apparel companies in H1 FY2021.

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