Feedback
A pioneer B2B media and publication platform connecting with Fashion Brands & Retail in India
 

CMAI’s 71st National Garment Fair to help turn around market sentiment

 

CMAIs 71st National Garment Fair to help turn around market sentiment

 

The National Garment Fairs not only usher in the new season, but also play an important role in turning around the mood of the industry. Organized by the Clothing Manufacturers Association of India (CMAI) over the last few decades, the National Garment Fair has become one of the most prominent events for domestic garment industry. CMAI will hold the 71st edition of the National Garment Fair – ONLINE, from September 10-20. Over the years, the fair has launched innumerable brands and helped manufacturers and retailers plan their production and sale around the dates of the NGFs,

As the COVID-19 crisis makes holding of events of the size and scale of NGFs impossible, CMAI has introduced a unique concept of a virtual fair, where buyers and seller can meet digitally to showcase their collections from the safety of their offices, showrooms, and homes. Over 250 participants, and close to 20,000 retailers are expected to visit the fair digitally. The fair will be launched by Smriti Zubin Irani, Minister of Textiles.

It’s being organized in partnership with Udaan, India’s leading B2B e-commerce platform with the largest distribution network for retailers, wholesalers, brands and manufacturers across multiple categories. Udaan’s marketplace services include credit, logistics, marketing & sales support to buyers and sellers on its platform, facilitating efficient and convenient transactions across the country.

Current market situation

As per the CMAI Apparel Consumption Study, conducted with AC Nielson, India’s premier market research agency, the size of domestic market before COVID-19 crisis stood at Rs.6.5 lakh crores. Consumption is likely to go down approximately 30 per cent in 2020-21. Various surveys conducted by CMAI over the last few months also indicate at least 20 per cent respondents will shut their business unless markets improve substantially. Most manufacturers also plan to reduce employee strength by up to 25 per cent. The biggest issue confronting the domestic market is the slow recovery of consumer sentiment. The market is expected to revive to around 70 per cent of previous year’s levels by the third quarter, with the festive season setting in. It is to take advantage of this partial recovery that CMAI plans to hold the 71st NGF and kick-start the season once again.

Exports revival to 70 per cent

India’s garment exports dropped 62 per cent to $1446 million during April to June 2020. However, with the gradual opening up of international markets, exports are estimated to end close to 65 to 70 per cent of last year. However, with anti-China sentiment spreading across the world, Indian exports have one more opportunity to take a quantum leap in market share going ahead. Both the government and the industry are working closely to ensure that India takes full advantage of this situation. The much awaited signing of FTAs with EU and US will go a long way in assisting this growth.

Other activities by CMAI

In an important development, three leading associations – the Garment Exporters Association of Rajasthan (GEAR), Apparel Manufacturers Association of Indore (AMSI), and West Bengal Hosiery Association (WBHA) have affiliated their associations to CMAI, enhancing the reach and influence of CMAI in these important manufacturing centres of the country, and simultaneously helping the regional associations to communicate their activities across all over India.

CMAI is also launching an extremely useful Mobile Catalogue App in partnership with Quick Sell, which will enable members to maintain a 24/7 connect with clients showcasing their products, promotions, and developments digitally. The app is being launched this month. These efforts are expected to help CMAI members to grow their businesses in spite of the challenging environment.

LATEST TOP NEWS
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10

Around 3 lakh e-com jobs expected this festive season: Redseer Consulting

Around 3 lakh e-com jobs expected this festive season: Redseer Consulting

     As Redseer Consulting, around three lakh jobs are likely to be created by various e-commerce and logistics companies during this year's festive season. Most of these jobs are temporary, created... Read more

As migrant workers return to work, Tiruppur units buzz with industrial activity

As migrant workers return to work, Tiruppur units buzz with industrial activity

    Worth over $2.4 trillion global apparel industry, in India the industry employs millions of workers. However, the industry is plagued by various labor rights issues further exacerbated by the pandemic.... Read more

COVID-19 accelerates India’s move to sustainable fashion

COVID-19 accelerates India’s move to sustainable fashion

    Designer Anita Dongre believes, COVID-19 has made Indian brands realize the importance of sustainable fashion production. Her company, House of Anita Dongre, sources ethically produced materials besides adopting innovative and... Read more

India’s merchandise retail to cross $1 trillion by FY25: Analyst

India’s merchandise retail to cross $1 trillion by FY25:  Analyst

     India’s merchandise retail sector, which was initially expected to cross $1 trillion in revenues by FY23, is now estimated to touch the same in FY25 due to the pandemic-induced slump... Read more

Demand recovery to lead Indian textile, apparel market growth in Q2FY21

Demand recovery to lead Indian textile, apparel market growth in Q2FY21

     Recovery in the textile and apparel sector in Q2 FY 21 is likely to be led by increasing demand in the domestic and overseas market, says India Ratings and Research... Read more

With e-com expecting festive season boost, small cities to see high traction

With e-com expecting festive season boost, small cities to see high traction

    Benefitting in a big way from the COVID-19 pandemic, the $27 billion Indian e-commerce market is expected to grow by 40 per cent in 2020. Redseer Consulting expects the market... Read more

Brands, marketplaces expect a strong rebound this festive season

Brands, marketplaces expect a strong rebound this festive season

     Brands as well as online fashion and beauty marketplaces Myntra and Nykaa expect a strong rebound during the festive season after a weak first half impacted by the COVID-19 pandemic.... Read more

Leading Indian brands foray into anti-viral clothing

Leading Indian brands foray into anti-viral clothing

     The pandemic has encouraged many Indian textile and apparel brands, including Reliance, Arvind, Aditya Birla, Donear Group, Raymond Siyaram and few start-ups to enter the market for anti-viral clothing in... Read more

India’s online shoppers to double this festive season: Redseer Consulting

India’s online shoppers to double this festive season: Redseer Consulting

     According to Redseer Consulting, the number of online shoppers in India will nearly double to around 50 million during the festive season this year. This year’s bonanza sales will gain from... Read more

Surendra Savai passes away

Surendra Savai passes away

   Credited for launching the first edition of DFU Publications in 1989, Surendra Tulsidas Savai, President, Mumbai Textiles Merchants Mahajan, passed away on September 15, 2020. He was 81 years old.... Read more

MOST POPULAR NEWS
Go to top

Follow Us On:

Face BookDealersForYou

TWDFUpublications

LNDFUpublications

YouTubeDFUpublications

 Copyright © 2020 DFU Publications. All rights reserved.