Garment exporters worried about fall in global orders
Garment makers in Tirupur and Noida are seeing up to a 25% reduction in fresh orders from global brands like Mango, Zara, H&M after they suspended operations in Russia following its invasion of Ukraine. Spanish fashion retailer Inditex – which owns Zara – has halted trading in Russia, closing its 502 shops and stopping online sales a fortnight ago.
H&M has suspended operations in Russia, while Spain’s second-largest fashion retailer Mango has also temporarily closed its 120 shop in Russia. “Garments were routed to Russia through Spain,” said Lalit Thukral, president, Noida Apparel Export Cluster. After all the global brands suspended operations, fresh orders have come down by 15%, he added. “We are a bit worried regarding payments that have got stuck due to the Russia-Ukraine war,” Thukral said. The apparel export cluster in Noida houses 3,000 units, with an annual turnover of nearly ₹30,000 crore.