Every year Pantone releases its color of the year, and for 2020-2021 it has chosen the blue that evokes the mystique of the twilight sky. The beautiful blue that is found in the depth of the ocean, the twilight sky, and sapphire- the gemstone.
The queries on sourcing from India have quadrupled since the time of the pandemic. Every country is looking for an alternative to china. Furniture being the fundamental element for any home or office requirement, there has been a flood of orders at all manufacturing units in jodhpur for the upcoming festive season.
According to a Gartner survey, 33% of companies are moving their supply chains out of China. Citing the COVID-19 pandemic, the US-China trade war, rising tariffs, and Brexit, companies are moving their sourcing to Vietnam, India, and Mexico. This means that one-third of companies with global supply chains have moved their sourcing and manufacturing activities out of china, or plan to move out in the next two to three years. According to QIMA- a Hong Kong-based quality control and supply chain inspection company, there has been a sudden surge in the demand for inspections and audits by North American and European buyers in south-east Asia and South Asia. Such inspection and audit reports are used by companies to migrate to new areas.
The year 2020 has been full of surprises. Who would have thought in 2019 that the whole world would shut down together and every person would be confined to the periphery of their homes? While a few saw a grim uncertain future, many others saw COVID-19 as a great opportunity. Those who saw COVID as an opportunity started reshaping their business models. Because of the unconventional approach keeping in mind the COVID-19 chaos, divergent industries are getting back on track, either through innovations or through adaptations.