A recent survey has highlighted the challenges faced by Indian apparel MSMEs (Micro, Small and Medium Enterprises) in the logistics and sustainability aspects of their business. The survey, conducted by Apparel Resources, a leading publication in the apparel industry, found that Indian apparel MSMEs are struggling to ensure the efficient movement of their goods, resulting in higher costs and lower profitability.
The survey revealed that 60% of the respondents faced difficulties in timely delivery of their products due to inadequate logistics infrastructure, long delivery times, and unpredictable disruptions. This has led to increased costs, delays, and damage to products, ultimately impacting the bottom line. The survey also found that 55% of the respondents have had to pay extra fees to logistics providers to ensure timely delivery, which further eroded their profit margins.
In terms of sustainability, the survey revealed that 75% of the respondents have faced challenges in implementing sustainable practices in their business, citing the lack of resources, expertise, and regulatory support. The survey also found that 60% of the respondents had not adopted sustainable practices, stating that it was not a priority for their business.
The survey also highlighted the importance of efficient logistics and sustainability in the fashion industry, with 80% of the respondents agreeing that it is essential for their business to stay competitive. However, the survey also found that the lack of support from policymakers and regulators, limited access to finance, and a lack of standardization in the industry are significant barriers to implementing sustainable practices.
The survey’s findings suggest that Indian apparel MSMEs are struggling to balance the demands of efficient logistics and sustainability, which is critical for their survival and growth. To address these challenges, the survey recommends that the government provide support for MSMEs through initiatives such as training and capacity building programs, access to finance, and infrastructure development. The survey also suggests that industry associations and organizations play a crucial role in providing support to MSMEs, including sharing best practices, providing resources, and advocating for policy changes.
In conclusion, the survey highlights the urgent need for the Indian apparel industry, particularly MSMEs, to prioritize logistics and sustainability. With the increasing competition and growing demand for transparency and sustainability, it is crucial for MSMEs to adopt efficient logistics and sustainable practices to remain competitive and successful. The survey’s findings suggest that support from both government and industry is necessary to help Indian apparel MSMEs overcome these challenges and thrive in a rapidly changing industry.