Demonetisation Effect: Q3 CMAI Apparel Index growth lowest at 1.4 points

CMAI’s Apparel Index for Q3 Oct-Dec FY 2016-17 shows this quarter had the lowest growth so far with overall Index Value at 1.4 points compared to previous quarter (July-Sept FY 2016-17) where overall Index Value was 4.64 points. The dismal growth last quarter is a fallout of ‘Demonetisation’ that impacted all segments and sectors of Indian economy including the apparel industry. Within apparel industry, the impact has been felt across the board. However, big brands seem to have adapted and managed growth. While Large Brands (turnover of Rs 100 to Rs 300 crores), were at 7.23 and Giant Brands (turnover of R 300 crores and more) scored 8 points respectively. Small brands (turnover of Rs 10-25 crores) however, have been hit badly recording negative growth at -0.55 points, while mid brands (turnover of Rs 25 to 100 crores) managed to grow a meagre 1.22 points.