CMAI SEEKS MORE SUPPORT FOR GARMENT RETAIL SECTOR

In an Open Letter sent to the Hon’ble Minister of Finance, Nirmala Sitharaman, Mr Rajesh Masand, President, CMAI, Lists some Pre-Budget Recommendations that could help give a Boost to the Garment Industry which has faced a Catastrophic last year due to the Pandemic...

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An open letter written to the Hon’ble Minister of Finance, Nirmala Sitharaman, by Mr Rajesh Masand, President, CMAI, outlined pre-budget recommendations urging the government to consider lending financial aid to the Garment Industry to help recover from the devastating aftermath of the pandemic.

In his letter Mr Masand highlighted how the Retail Industry along with the Hospitality and Tourism Industry had been the hardest hit by the pandemic and its consequent impact on the Economy.

In the wake of the stringent lockdown and the on and off partial lockdowns, Mr Masand explained in his letter how the Retail and Garment Industry, whose manufacturing is solely dependent on Retail has been worst affected considering that more than 80 percent of the Garment Industry is within the MSME Sector, with its own constraints of Finance and Sustaining power.