From the Editors Desk  

New year startedunder the shadow of demonetisation. Now it has started impacting all sectors not only small segment. The world Bank has released its first reporton India’s economy after demonetisation and anticipated that Indian Economy growth is expected to be 
slowdown to 7% for the next 12 months from the earlier forecasted of 7.6% and expected to regain momentum in next two years. It has also been mentioned that demonetisation could continue to disrupt business and household economic activities, weighing on growth as cash 
accounts for more than 80 per cent of the number of transactions in India. Other economists have also predicated slowdown of the Indian economy at least by 1% in the next few years. It has also been estimated that large informal sector accounting for 80% of the country’s 
employment and 45% of the GDP will be disproportionately affected by the liquidity crunch because of its inherent dependence on cash.Textile sector is one of the cash driven sector with a larger contribution from small scale enterprise. Demonetization has adversely affected small and medium scale textile and garment industries from 
Ludhiana to Tirupur and from Surat to Kolkata. Migrated labourers take wages in cash which employers were unable to provide so they left their jobs which increased the unemployment and delayed the production. It has been accounted that demand in domestic retail 
sector dropped down to 50% during demonetisation period. Several textile factories are presently closed due to cash crunch and will regain momentum atleast after one year.  It is high time to analyse what we actually gain from demonetisation in totality. We hope that the 
Government will honestly analyse the consequences of demonetisation and would not take such drastic steps in future.

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