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Rather than reminiscing about 2017, I would like to highlight some of the noteworthy figures revealed after a recent survey conducted for the apparel and textile industry by the well-known consultancy, Wazir Advisors. I do so primarily because initial indications seem somewhat paradoxical, in that there is a spark of light at the other end of this dark tunnel most of us are unhappy about. 73 per cent of the respondents to the survey said that demand as well as profit in the textile and apparel industry had decreased during the initial months of of GST implementation, while almost two-thirds reported an increase in unemployment. Manufacturers reporting lower demand thus indicate a depletion of stocks in the supply chain. The impact of GST on input cost did not have a clear-cut trend as 33 percent said the input costs had decreased while 47 per cent said that they had increased.

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