A Study on the new business strategies for the Indian apparel industry post-covid-19 pandemic
- Journal of Textile Engineering & Fashion Technology
Santosh Kumar Tarai,1 M Soundarya2
The covid-19 pandemic has disrupted enormous businesses across the globe to an extent none had ever imagined. There is no doubt about the slowdown of various businesses; however, covid was a boon to a few industries worldwide. The textile and apparel industry is one such industry where the covid-19 pandemic is both a boon and a bane. Many of these industries got shut down during the pandemic, but few managed to survive and grow during and after the post-covid-19 pandemic. The Indian apparel industry was also a victim of the pandemic, but not for a prolonged time. Few industries tried ways to overcome the struggle and successfully devised new strategies that kept them forward through the years. Thus, to understand and implement the new strategies, it is essential to get past the scenario that led to the formation of these strategies.
Objective: This study highlights the scenario of the Indian apparel industry Post- Multifibre Agreement (MFA) regime that led to its success along with the existing challenges and conditions at that time, which helped in formulating the strategies followed before the covid disruption. Insights from the past studies would help in understanding and implementing the new strategies that would fit aptly in this new post covid period. The study is mostly based on data gathered from secondary sources and industry inputs from various export firms at the management level.
Covid-19, business strategies, supply chain, small and midsize enterprises, post-quota regime