Impact of demonitisation on Indian textile industry
Making news from the day it came into effect, the Demonitisation of the Rs 500 and Rs 1000 currency notes by the govt. of India has had a major effect on almost all the major industries in the country. This scheme has received mixed reactions till now as some industry experts say that the sales are badly hit and this would continue to effect the new booking season. However, some feel that it’s a short span of hardships which will be overcome in some time. But one thing is sure — this scheme has impacted the textile industry. And as the textile industry is the second largest industry in India, the effect of demonitisation on it is something that many are eager to know about.