Global recession in fashion? Not in India

The global stock markets are constantly wavering of late. The US and European debt crisis has put the whole world on edge, in fear of looking at a repeat of the 2008 economic dip. And this is not restricted to just the corporate world, as fashion experts globally fear the repercussion might batter the industry. However, Indian fashion designers are optimistic.

Designer Sabyasachi Mukherjee says, “In recession, contrary to common belief, buying doesn’t stop. It’s just that the buyers are very careful of they are picking up. Therefore I think we should utilise that opportunity to the maximum. With India being a growing economy is a perfect fit to explore than any other developed nation currently. It’s just that we need to analyse our weaknesses and work on it. I think it will be more of a boon than bane for us then.”

Designer Wendell Rodricks has a similar feeling to share. He says, “I think if recession re-occurs, we will not be affected as much this time being a strongly growing economy. However, the Western nations may lessen their buying but not stop it. The unusual purchases will go down; pieces that are perceived to be value-for-money are always in demand. We can use this time to better our trade, with slight price correction, trend spotting and resource management.”

There is a silver lining to every cloud. “There is no room for mediocrity. The best products will find their way to discerning shoppers. Recession is a sign of fatigue and excess. It comes as a blessing to get rid of the unwanted. It’s a wake up call to act and not react,” says designer Lina Tipnis.