20 December 2023, Mumbai

Driving Textile Advancement with R&D

The Northern India Textile Research Association (NITRA) has cemented its position as a true pioneer in textile innovation, securing a coveted spot among the Top 5 Innovative Institutes in India for the year 2023, as recognized by the Confederation of Indian Industry (CII), the nation's premier industry association.

This prestigious honor marks NITRA's second consecutive year topping the CII's prestigious list, solidifying its unwavering commitment to research and development (R&D) that propels the textile and apparel industry forward.

Beacon light

NITRA's dedication to pushing boundaries is evident in its unwavering focus on technical textiles, unconventional natural fibers, and sustainability.

Its impressive track record speaks volumes, with nearly all its groundbreaking developments finding successful commercialization. This unwavering commitment to translating innovation into tangible benefits resonates across the textile and apparel landscape, driving positive change and propelling the industry towards a more sustainable future.

Backbone to the industry

"For us at NITRA, innovation is not just a word; it's deeply ingrained in our culture," declared the authorities, expressing elation at the recognition. "This acknowledgement by CII serves as a testament to the tireless efforts of our team and reinforces our unwavering commitment to pushing the boundaries of textile research."

With a relentless focus on R&D and a passion for translating ingenuity into real-world solutions, NITRA is undoubtedly at the forefront of India's textile revolution. Its continuous ascent as a leading innovator is a beacon of inspiration for the entire industry, paving the way for a future where sustainable and cutting-edge textiles take center stage.

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29 November 2023, Mumbai

IN BRIEF

E-commerce orders surged 23% during India's Black Friday sale weekend compared to 2022, with over 8.5 million orders processed on the Unicommerce platform.

Brand websites outpaced marketplaces, with order volumes growing 28%. Tier III cities led growth, with a 43% increase in volumes. Fashion and beauty remained dominant categories, while FMCG and eyewear saw an uptick.

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24 November 2023, Mumbai

IN BRIEF

Intex India (Dec 2023)

Embark on a textile odyssey at ITC, where transformative ideas converge, market trends unfold, and partnerships ignite.

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19 December 2023, Mumbai

BRICS+ Fashion Summit: Unmasking the Allure of Indian Style

Colors in Harmony: Zaryadye Park bursts with vibrant sarees and clinking champagne flutes – the BRICS+ Fashion Summit is in session.

Video Insights

Beyond the Runway:

One session ignites curiosity: "Reverse Pitch: Country Expert Session. India." Forget dusty panels, this dives deep into India's fashion secrets.

Love as Business:

Dr. Gulbash Duggal, fashion education guru, unveils a simple truth: "We are a love-loving people." Not just emotion, but a business mantra. Indian fashion thrives on emotional connections, with passion outweighing fleeting trends. 

"We fall in love with clothes," she admits, revealing a market driven by lasting affection, not fickle fancies.

Marketplace Entry Point:

Akashdeep Singh, the strategic mind, takes the baton. "Marketplaces are your window to India," he declares, pointing to Choupette, a trusted e-commerce giant. He throws down a challenge: "Working with India isn't 'if,' it's 'what will you leave behind?'" 

A subtle shift, replacing doubt with opportunity, is a call to action for fashion pioneers.

Global Collaboration: 

Sameep Shastri, the visionary, expands the horizon. He urges BRICS+ nations to unite their strengths, each offering unique skills and industries. "Together," he proclaims, "we can create sustainable products that last." This transcends fashion, envisioning a future built on cooperation, not competition.

Sparkling Insights: 

Moderated by the witty Sanjay Chawla, the session crackles with knowledge. 

He concludes with a bold statement: "The last four decades belonged to China. The next three belong to India." It's not just a prediction; it's a challenge, an invitation to join the rising tide of Indian fashion.

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28 November 2023, Mumbai

Life in my small town isn't so small anymore. Gone are the days of dusty shelves and limited options; A tale of two Indian perspectives

Video Insights

This dynamic dance promises vibrant marketplaces, thriving communities, and a future where every consumer, regardless of zip code, gets to have their say. The story is still unfolding, but one thing is clear: it's going to be a thrilling ride.

Thrilling retail dance: Big & small compete, vibrant chance

Fueling Aspirational Spending Spree Indian consumers are buzzing with optimism, defying global economic anxieties and driving a surge in spending, particularly on premium and aspirational products.

India's retail market is poised for significant expansion, with malls set to benefit from rising consumer spending and the popularity of omni-channel retailing.

ICRA predicts trading values to surge by up to 4-5% in FY 2024, while rental incomes are expected to grow by 8–10%.

The rise of omni-channel retailing is driving footfalls to malls, leading to higher occupancy rates and an overall revitalization of the retail sector.

With India's retail space market expected to reach a value of $2 trillion by 2032, the future outlook for malls remains positive.

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17 November 2023, Mumbai

IN BRIEF

NeceSera is a brand that cares about social and environmental issues.

It aims to redefine loungewear as a blend of comfort, style, relaxation, and luxury.

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11 December 2023, Mumbai

WHY India

Indian retailers are doubling down on in-store experiences to draw customers in the post-pandemic era. 

They are expanding their retail spaces by 30-50% despite high rental costs, betting on unique and immersive experiences to stand out from the crowd. 

Trick of the trade 

It's not just about attracting foot traffic, but also about converting visitors into loyal buyers. 

Retailers understand that in a $4 trillion economy, success hinges on experiences, not just products.

Data drives the trend:

• The top 7 Indian cities saw a 3.16 million sq. ft. gross leasing in retail in the first half of 2023, demonstrating consumer confidence and retailer commitment to experiential design.
• From January to September 2023, retail areas across major cities grew by 4.73 million sq. ft., reflecting the industry's agility in adapting to changing consumer preferences.

Beyond merchandise, experiences take center stage:

Pankaj Renjhen, COO and Joint-MD of Anarock Property Consultants, emphasizes that physical stores are now about engaging the customer, not just displaying products. 

Retailers are not only expanding existing stores but also opening new ones, capitalizing on a booming organized retail market. 

Data -points

CBRE India reports a significant 46% year-on-year growth in retail sector leasing during the January–September period of 2023.

In essence

Indian retailers are embracing a new paradigm, prioritizing experiences over mere merchandise to win the hearts and wallets of today's consumers.

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25 November 2023, Mumbai

IN Brief

FICCI INDIA PAVILION 

DHAKA INTERNATIONAL TEXTILE GARMENT 2024
February 1st – 4th, 2024
International Convention City Bashundhara (ICCB), Dhaka, Bangladesh

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16 November 2023, Mumbai

Embark on a Fashion Extravaganza 

The Singara Garden Readymade Merchants Association proudly unveils the Sri Lanka Edition of the International Apparel Fair, an immersive showcase of Sri Lanka's vibrant apparel, textile, and accessories industry.

Experience the Essence of Sri Lankan Fashion

Prepare to be captivated by a dazzling array of exquisite designs, innovative fabrics, and trendsetting accessories at the esteemed Sri Lanka Exhibition and Convention Centre (SLECC) from January 30th to February 1st, 2024.

Venue: Sri Lanka Exhibition and Convention Centre (SLECC) 12 McCallum Rd, Colombo-01000, Sri Lanka

Dates: January 30th, 31st, and February 1st, 2024

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04 December 2023, Mumbai

Recovery Stumbles, Consumers Cautious – Fashion Faces Rocky 2024

• McKinsey report: Slow, uneven global rebound casts doubt on industry's future.

• Pessimistic consumers, inflation squeeze value creation and growth.

Learning from 2023: US, Europe Lag, China Falters

• Performance hinges on adapting to past challenges: weak Western markets, China's slowdown.

• Demand shifts threaten 'bullwhip effect': supply chain instability, job losses, investment delays.

Resilience and Innovation Key to Success

• Fashion must navigate obstacles: create value, find new growth drivers, understand diverse influences.

• Luxury remains profitable, but growth slows to 3-5% (down from 5-7% in 2023).

US Luxury Rebounds Slightly, Optimism in Emerging Markets

• US, Europe cautious, but American luxury to see 2-4% year-on-year growth after a rough 2023.

• India, Southeast Asia offer glimmers of hope with their rapidly expanding fashion industries.

Will fashion weather the storm and find its new rhythm in 2024?.

5 Key Insights :

1. Rocky Road Ahead: Uncertain recovery, cautious consumers. (5 words)
2. Global Growth Stumbles: Uneven rebound, industry doubts linger. (6 words)
3. West Loses Shine: US, Europe lag, China slows down. (5 words)
4. Bullwhip Looms: Demand shifts, supply chains at risk. (5 words)
5. Innovate or Evaporate: Resilience key, find new drivers, understand trends.

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25 November 2023, Mumbai

IN Brief

Powerhouse of Opportunities

Premier International Textiles Sourcing Event is around the corner

Yarns, Apparel Fabrics, Denim, Accessories

• • 7-9 December 2023

    Hall IC IICC Yoshobhoomi, Dwarka New Delhi

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06 November 2023, Mumbai

Why India
The Confederation of Indian Industry (CII) and the Government of Maharashtra jointly organized the TEXFUTURE 2023 Conference on November 1, 2023, where they released a report titled "Decadal Outlook for Textile Industry: Threads of Transformation for Textile Industry" prepared by CII and Primus Partners.

Video Insights
The report projects that the textile industry will increase its share of the GDP from 2.3% to about 5% by 2030. It also expects a steady annual growth of 9% in Gross Value Added (GVA) from 2021 to 2028.
Unveiled
Maharashtra's Honorable Textile Minister Chandrakant (Dada) Patil launched the report and said that the Textiles Policy 2023-28 is a major milestone in Maharashtra's development journey.
The policy aims to attract Rs 25,000 crore of investments and create 500,000 jobs, with a focus on the growth and sustainability of the industry, including Technical Textiles.
Bright prospects
Dr. Praveer Sinha, Chairman of CII Western Region and CEO & MD of Tata Power Company Ltd, emphasized the huge potential of the Indian textile industry, which accounts for only around 5% of the global trade in textiles and apparel, despite being the world's fifth-largest economy.
He urged for an integrated approach to improve value addition, competitiveness, and sustainability, which would contribute to employment generation and national output.
Policy Intervention
Devroop Dhar, Co-Founder and Managing Director of Primus Partners spoke about the government's initiatives and schemes to support the textile sector, such as the Amended Technology Upgradation Fund Scheme (ATUFS), Production-Linked Incentive (PLI) Scheme, and National Technical Textile Mission, which have incentivized investments in modern technology and infrastructure, thereby enhancing the sector's competitiveness.
Job creator: The Indian textile industry, which employs over 100 million people in textile and allied sectors, is a major employer and contributor to GDP. The industry accounts for around 2.3% of India's GDP and is expected to grow at a steady rate of 9% in the coming years.

5 key insights:

• Growing industry: Projected to grow 9% annually from 2021 to 2028.
• Job creator: Employs over 100 million people in textile and allied sectors.
• Investment potential: Textiles Policy 2023-28 aims to attract Rs 25,000 crore of investments.
• Government support: Amended Technology Upgradation Fund Scheme (ATUFS), Production-Linked Incentive (PLI) Scheme, and National Technical Textile Mission.
• Huge potential: Indian textile industry accounts for only around 5% of the global trade in textiles and apparel.

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