FOHMA President K. B. Agarwala expressed his message under pandemic situation of COVID-19. He said that the COVID-19 pandemic has brought about an upheaval, which is unprecedented in nature. It has upset everything, turning the economic scenario from boom to gloom. It has become more challenging due to the fact that countries all over the globe are having to adapt multi pronged approaches to contain this disease.
We from FOHMA (Federation of Hosiery Manufacturers’ Association of India) have been representing to the various authorities. About the difficulties being faced by our industry / trade due to this pandemic. While, our Government has been trying to take steps to mitigate the hardships. A lot more needs to be done to support our fraternity in these extremely difficult times now. It goes without saying that extensive economic losses are anticipated now and in the foreseeable future.
Unfortunately, under the present circumstances, the demand for hosiery products have come down to a grinding halt. It is difficult to predict how quickly the normalcy will return. But till then it would be a challenging time and concerted efforts would have to be made by businesses to ensure survival and sustainability.
However, it is my personal view that the way of doing business will change drastically post the COVID-19 crisis. And in doing so, the element of “safety” would play a major role in all business / commercial activities. Secondly, short-term / long-term planning, budgeting and identification of focus areas in businesses would have to be given top priority. Thirdly, we would need to increase our reliance on “technology”, which has so far helped us to understand / keep track of the developments worldwide. We have to learn new ways of working and remote working would possibly become an acceptable norm in the days ahead.
On a positive note and given the changes taking place, we feel that many global companies would shift their focus on buying / sourcing products from our country. As clothing will still remain a basic necessity – there will always be hope for this industry. Yes, the volumes may come down, but is not likely to disappear in the long run. Once life returns to normalcy in the next couple of months, people will get back to shopping / purchasing to enable the “feel-good factor” back into their lives.
FOHMA president K B Agarwal would also like to take this opportunity to “salute” and “thank” all those who are helping the society and the people in this hour of need. May God give us the strength to overcome the hardships and pave the way for a new tomorrow – a brighter tomorrow.
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