educated scholars consider it a measure, saying – crisis is on the head

New Delhi. The decline in the sale of men’s underwear in India in the third quarter of the financial year 2022-23 has raised the ears of economic experts. They are not considering the country’s men buying less underwear as a good sign for the economy. He believes that the reduced sale of shorts is a sign of people’s distress. According to the Men’s Underwear Index created by Alan Greenspan, former head of the US Federal Reserve, when a country’s sales of men’s underwear decline, it is a sign of a recession in the economy. Underwear sales had declined before the onset of the economic recession in the US between 2007 and 2009.

Greenspan came up with the Men’s Underwear Index in the 1970s. According to Alan Greenspan, the figure of sales of men’s underwear is an important economic indicator. Men’s underwear is the most private garment and it is hidden. In such a situation, the person stops buying underwear when the financial situation is disturbed. This indicates recession or economic slowdown in the coming times.

sales fell in india
Underwear sales in India have fallen by 55 per cent in the quarter ending December 2022. In the first two quarters of the financial year 2022-23, despite skyrocketing inflation, there was a boom in the innerwear market. But now things are changing. In the quarter ending December 2022, the sales of Page Industries, the parent company of Jockey and Lux Industries, have decreased on a quarterly basis. The volume of Page Industries has decreased by 11 percent. The stock of the company has also fallen by five per cent. Whereas, Rupa & Co. reported a 52 percent decrease in volume. In the last one year, the share of Rupa) has broken up to 52 percent.

The veracity of underwear index has been proved in America. America had gone through a severe recession between 2007 and 2009. Since the beginning of 2007, there has been a huge decrease in the sale of men’s underwear in America. From 2007 to 2009, the sale fell significantly. As soon as America’s economic situation improved in 2010, there was a boom in the sale of male underwear.