The war has been a major concern and one of the most challenging situations that Indian manufacturers and sourcing companies had to face in the past few months, but free trade agreements (FTAs) are breathing a sigh of relief. In a conversation with Fibre*Fashion at Bharat Tex ****, Prashant Mohota, managing director, Gimatex Industries said that the biggest challenge was uncertainty and volatility.
“We saw various issues, burning issues, which were always there in the minds of buyers, which actually creates a matter of confusion, because of which the buying tendency goes down, the confidence in the business goes down, and that is the reason why we couldn**;t see the full benefit of the recent FTAs which were done by the Government of India,” Prashant Mohota said.
The war and its impact
The war pushed up prices of raw materials and extended shipping timelines, impacting several firms exporting to global buyers. Order books and profitability have taken a hit and continue to come under pressure
