As per the findings of a survey conducted by Rajesh Bheda Consulting (RBC), the impact of COVID-19 pandemic on business is unfathomable as of now but the total business impacted so far can be estimated at $3 billion. The combined value of orders cancelled and on hold is $1.49 million per respondent factory; 56 per cent respondents revealed payments were delayed, whereas in 19 per cent cases, customers refused to pay for the orders. Of the cancelled orders in 22 per cent cases buyers had paid for the material, in 35 per cent cases partial payment for the material was received and in remaining 43 per cent cases no payments were received.

RBC undertook a quick survey to understand the gravity of the situation in India. In all, 77 apparel exporting organizations from different manufacturing hubs of the country responded. Though the results are based on a relatively small sample, these do provide some much-needed data reflecting the scale of the challenge, as experienced by the respondents and its potential impact on the industry.