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The full recovery for Indian apparel players is likely to be delayed to 2022-23 due to the resurgence of the COVID-19 pandemic cases, according to a report. Icra Ratings expects the full recovery for Indian apparel players to be prolonged and pushed back to the financialyear 2023 amid rising COVID cases in India and some of thekey export markets. Their business performance in the financial year 2022, however, is expected to be better than the financial year 2021, supported by continued favourable progress on the vaccination rollout and a material shift witnessed towards online shopping, according to the Icra report. This will cushion the adverse impact on the brick-and-mortar outlets, helping companies report a better performance compared to last year, the report noted.

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