Demand fall to crimp Indian RMG revenues by 25-30%

A sharp fall in both domestic and exports demand because of the COVID-19 pandemic, lower profitability and elongation of working capital cycle are expected to impair the credit profiles of Indian readymade garment (RMG) makers this fiscal, according to CRISIL Ratings, which recently said the impact will be felt more by exporters owing to higher revenue de-growth and stretched receivables.