According to textiles and apparel giant Arvind Ltd Chairman Sanjay Lalbhai, the domestic market is likely to recover as the second wave of COVID-19 recedes and the festival season approaches, despite the fact that concerns stemming from the pandemic remain.
Lalbhai stated in his address to shareholders in the company’s Annual Report for 2020-21 that export markets, including the United States, are poised to deliver strong growth in the coming quarters, and that overall demand growth is expected this year as retail and distribution pipelines are running low on inventory.
Lalbhai, a textile and clothing manufacturer, stated, “There was a dramatic drop in demand across all markets, particularly in the early half of the fiscal year.” As retail and distribution pipelines run low on supplies, he predicts that demand for us will rise this year. He said that the company’s US and other export markets are primed to generate substantial growth in the next quarters.
Lalbhai, the CEO of Indian e-commerce behemoth Flipkart, has stated that the firm is “well prepared to take advantage of the possibilities that will emerge” in the coming days. He hurried to add, though, that “we are not yet free of the uncertainty caused by the epidemic, and we will continue to monitor both the benefits and possible threats, and adopt a balanced approach forward.”
