For the past few years we have been hearing a term – ‘VUCA’ – Volatile Uncertain Complex Ambiguous, quite often. This term is perhaps the most precise to describe the current situation.
It is now clear that we’re seeing the worst health and economic crisis, ever. Entire country is shut, businesses cannot function, unemployment is rising dramatically, value chains have been wrecked and negativity and uncertainty is looming all over.
As far as textiles are concerned, it being one of the basic needs, consumption will continue once sentiments return to normal. In my opinion India’s domestic consumption and exports, especially in the home textiles segment will help to sustain the Indian textile industry .
All our customers foresee that there will be operational issues to restart the production such as getting back migrated labor force , logistics and availability of raw material , etc. , but see long term opportunities due to changed sentiments.
I am reminded of an article on the Guardian website last week- a letter by an Italian….She ends her piece with, “If we turn our gaze to the more distant future, the future which is unknown both to you and to us too, we can only tell you this: when all of this is over, the world won’t be the same.”
No doubt the world is unlikely to remain the same. The coronavirus is already rewriting our future. The Indian government is doing all-round efforts to contain and overcome this pandemic. We at BTMG foresee opportunities beyond the crisis.