16 November 2023, Mumbai

The Confederation of All India Traders (CAIT) is projecting a bright future for India's retail sector, anticipating continued robust growth.
This positive outlook is fueled by several factors, including the upcoming holiday season and a growing preference for domestically produced goods.

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Festive Cheer to Boost Trade
India is gearing up for a series of upcoming festivals, including Goverdhan Pooja, Bhaiya Dooj, Chhath Pooja, and Tulsi Vivah. These occasions are traditionally associated with heightened consumer spending, and the CAIT expects this year's celebrations to generate an additional ₹50,000 crore in trade volume.
This surge in spending is likely to be driven by increased demand for traditional attire, home décor items, and sweets and delicacies. Retailers are already preparing for the festive rush by stocking up on inventory and implementing attractive promotional offers.
Vocal for Local: A Trend Gaining Momentum
The "Vocal for Local" and "Make in India" campaigns have gained significant traction in recent years, encouraging consumers to prioritize domestically produced goods.
This trend was particularly evident during the 2023 Diwali sales, when Indian products dominated the market.
The CAIT attributes this shift in consumer behavior to a growing appreciation for the quality and craftsmanship of Indian-made goods. Additionally, the rise of e-commerce platforms has made it easier for consumers to discover and purchase locally produced items.
Looking Ahead: A Promising Future
The CAIT's optimistic outlook for India's retail sector is supported by several key factors, including:
Rising disposable incomes: India's middle class is expanding rapidly, leading to an increase in disposable incomes. This, in turn, is driving demand for a wider range of consumer goods.
Urbanization: With more people migrating to urban areas, the demand for organized retail is on the rise. This trend is creating opportunities for large-format retail stores and shopping malls.
Technological advancements: E-commerce and mobile shopping are rapidly gaining popularity in India, providing consumers with greater convenience and access to a wider variety of products.
Government initiatives: The Indian government has implemented various policies to promote the growth of the retail sector, such as providing tax benefits and encouraging investments in infrastructure.
Bottom line
The CAIT's optimistic outlook for India's retail sector is well-founded.
The upcoming festive season, the growing preference for locally produced goods, and a supportive policy environment are all contributing factors to the sector's continued growth.
As India's economy continues to expand, the retail sector is poised to play an increasingly significant role in driving economic growth and creating employment opportunities.

5 key insights :

1. Festive cheer to boost trade: Upcoming festivals to drive retail sales.

2. Vocal for local: Growing preference for Indian-made products.

3. Rising incomes: Expanding middle class fueling consumer demand.

4. Urbanization: Urban areas driving organized retail growth.

5. Technology advancements: E-commerce and mobile shopping gaining traction.

Latest Textile Events

13 November 2023, Mumbai

From Tradition to Innovation

India's textile industry, a cornerstone of the nation's economy, is poised for remarkable growth, targeting a $250 billion milestone by 2030. 

This transformation is driven by several factors, including the industry's significant contribution to employment, particularly for women, and the emergence of technical textiles as a high-tech segment with immense export potential.

Global Textile Market Trends

Analysts predict steady growth of the global textile market, reaching $859 billion by 2028, fueled by rapid industrialization in developed countries and advancements in fabric production. 

Natural fibers like cotton, silk, linen, wool, and hemp, along with conventional fibers, are finding extensive applications in various industries, including textiles, automotive, and pharmaceuticals.

India's Textile Industry's Growth Trajectory

The Confederation of Indian Industries (CII) report "Decadal Outlook for Textile Industry: Threads of Transformation for Textile Industry" projects a significant increase in the textile industry's contribution to India's GDP, from 2.3% to about 5% by 2030. This growth is attributed to several factors, including improved GDP, government initiatives, and a focus on sustainability.

Maharashtra's Textile Policy 2023-28: A Progressive Step

Maharashtra's 'Textiles Policy 2023–28' aims to attract global investments worth Rs 25,000 crore and create over 5 lakh jobs, particularly for women. This policy underscores the state's commitment to promoting the textile industry and making it a global leader.

Subheading: Government Schemes and Incentives

Various government schemes and incentives, such as the Amended Technology Upgradation Fund Scheme (ATUFS), Production-Linked Incentive (PLI) Scheme, National Technical Textile Mission, and PM MITRA scheme, have provided financial assistance and encouraged investments in modern technology and infrastructure.

The industry's fragmented supply chain, dominated by MSMEs, poses a significant challenge. 

Quality training programs are crucial to addressing the skill gap in the unorganized sector, which still relies on traditional methods due to financial constraints and a lack of knowledge.

Adopting Modern Technologies and Embracing Sustainability

Shifting away from traditional labor-intensive technologies and embracing modern technologies is essential to capitalize on the textile industry's export potential. Sustainability and circularity in the textile segment, along with the development of new segments like technical textiles, will enhance the brand image of Indian textiles and spur growth.

Conclusion

India's textile industry is undergoing a remarkable transformation, driven by innovation, government support, and a focus on sustainability. 

By addressing existing challenges and embracing new opportunities, the industry is poised to achieve its ambitious growth targets and emerge as a global leader.

GIST

• $250 billion target by 2030
• Driven by innovation and government support
• Sustainable and tech-enabled growth
• Addressing fragmented supply chain
• Upskilling unorganized sector

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08 November 2023, Mumbai

The United Arab Emirates (UAE) is a major market for India's ready-made garments (RMG) sector. In 2022–23, the UAE was the top buyer of Indian RMG in the Middle East and Africa (MEA) region, importing more than $1.21 billion worth of clothing.

Factors driving demand for Indian RMG in the UAE

Several factors are driving demand for Indian RMG in the UAE. These include:

The large Indian diaspora in the UAE. An estimated 3.5 million Indians are living in the UAE, making it the largest Indian community outside of India.

The UAE's growing economy and rising disposable incomes

The UAE's position as a regional trade hub

The UAE's strong demand for high-quality, affordable clothing

India's RMG exports to the UAE

India's RMG exports to the UAE have been growing in recent years. In 2022–23, India exported a total of $2.68 billion worth of RMG to the MEA region, of which $1.21 billion went to the UAE.

Challenges faced by India's RMG sector in the UAE

Despite the strong demand for Indian RMG in the UAE, there are several challenges that the sector faces. These include:

Competition from other countries, such as China and Bangladesh.

Rising input costs.

Infrastructure bottlenecks.

The outlook for India's RMG exports to the UAE

Despite the challenges, the outlook for India's RMG exports to the UAE remains positive. The UAE is a growing market for RMG, and India is well-positioned to capitalize on this growth.

Key opportunities for India's RMG sector in the UAE

There are several key opportunities for India's RMG sector in the UAE. These include:

Targeting the Indian diaspora in the UAE.

Focusing on high-value products.

Investing in branding and marketing.

Participating in trade shows and exhibitions.

India's RMG sector is poised for continued growth in the UAE

With its strong demand for RMG and its growing economy, the UAE is a promising market for India's RMG sector. 

By addressing the challenges that it faces and taking advantage of the available opportunities, India's RMG sector is poised for continued growth in the UAE.

5 key insights :

• Top buyer in MEA
• Driven by diaspora, economy, trade hub
• Strong demand for high-quality, affordable clothing
• Challenges: competition, input costs, infrastructure
• Outlook positive: growing market, India well-positioned

Latest Textile Events

16 November 2023, Mumbai

Muted Apparel Demand During Festive Season
Festive-season sales slump for the Indian clothing industry, unlike other sectors. Factors include:
What's What: Inflationary trends and Challenges in Macroeconomics worrying consumers, softening discretionary spending
Changing consumer spending habits are leading people to spend more on other categories, such as electronics and travel.
The industry's competitive and fragmented nature makes it difficult for companies to differentiate themselves and stand out.
Some consumers may be less inclined to keep up with the latest fashion trends, which are constantly changing.
The sluggish clothing sales are having a ripple effect throughout the textile industry, with cotton farmers, ginners, and spinning mills facing challenges due to the reduced demand.
To address these challenges, the apparel and garment industry could consider the following recommendations:
Focus on value-for-money products: Consumers are more likely to spend money on clothes if they feel they are getting a good deal. Companies can offer high-quality, durable, and affordable products to meet this need.
Adapt to sustainable practices: consumers are increasingly becoming more socially and environmentally conscious. Companies can adopt sustainable practices, such as using recycled materials and ethical manufacturing practices, to appeal to these consumers.
Invest in digital marketing: The internet is where many consumers are now spending their time and money. Companies can invest in digital marketing to reach these consumers where they are.
Differentiability: Companies can differentiate themselves by offering unique products or services or by building a strong brand identity. This will help them stand out from the crowd and attract more customers.
Other potential explanations for the decline in clothing sales include increased consumer awareness of their spending habits and the rise of e-commerce.
Recos: However, the suggestions above should help the clothing and garment industry overcome its current challenges and continue to grow in the future.

5 key insights :

1. Economic concerns dampening apparel demand: Inflation and macroeconomic challenges affect discretionary spending.

2. Shifting consumer preferences: Consumers prioritizing electronics and travel over apparel.

3. Intense competition and lack of differentiation: Challenging market landscape for apparel companies.

4. Waning interest in fashion trends: Consumers less inclined to keep up with fleeting styles.

5. Ripple effect on textile industry: Slowdown in apparel sales impacting cotton farmers, ginners, and spinning mills.

Latest Textile Events

11 November 2023, Mumbai

Indian Textile Industry Overview

With an ambitious goal of reaching $250 billion by 2030, India's textile industry is a global leader, employing over 27 million women. The industry is a major source of job creation and economic growth for the country.

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Technical Textiles: A High-Tech Segment with Global Potential

Technical textiles, a high-tech segment of the industry, offer great potential for exports. The global market for technical textiles is expected to grow from $723 billion to $859 billion by 2028. Technical textiles are used in a wide variety of applications, including automotive, aerospace, medical, and construction.

Natural Fibers: Cotton, Silk, and Hemp

Natural fibers such as cotton, silk, and hemp are increasingly used in textile production. These fibers are renewable and biodegradable, making them a more sustainable choice than synthetic fibers.

Technical Textiles: The Segment with the Highest Growth Rate

Technical textiles are projected to have the highest growth rate of any segment of the textile industry. This is due to the increasing demand for high-performance textiles in a variety of applications.

Key Aspects of the Textile Industry

A recent CII report titled "Decadal Outlook for Textile Industry: Threads of Transformation for Textile Industry," presented at the Texfuture 2023 conference, highlights the key aspects of the textile industry. 

The report forecasts that the textile industry will contribute about 5 percent to the GDP by 2030, up from 2.3 percent currently. The GVA is also expected to grow at an annual rate of 9 percent from 2021 to 2028, supported by a higher GDP.

The Textile Industry's Contribution to India's Economy

The textile industry is a major contributor to India's economy. The industry is expected to continue to grow in the coming years, creating jobs and driving economic growth.

The Global Textile Market: A Thriving Industry

Natural Fibers; A Sustainable Choice "Natural fibers from plants and animals, such as cotton, silk, linen, wool, and hemp, are increasingly used in textile production, as well as in the automotive and pharmaceutical industries."

Natural Fibers: A Sustainable Solution for Textile Production

Scene 6: Technical Textiles: The Segment with the Highest Growth Rate

"Technical textiles are projected to have the highest growth rate, with a CAGR of 15 percent, as they find more applications."

Technical Textiles: Leading the Way in Textile Growth

Key Aspects of the Textile Industry; "A recent CII report titled 'Decadal Outlook for Textile Industry'. Threads of Transformation for Textile Industry,' presented at the Texfuture 2023 conference, highlights the key aspects of the textile industry."

CII Report: Unveiling the Future of the Textile Industry

The Textile Industry's Contribution to India's Economy; "The report forecasts that the textile industry will contribute about 5 percent to the GDP by 2030, up from 2.3 percent currently. The GVA is also expected to grow at an annual rate of 9 percent from 2021 to 2028, supported by a higher GDP."

GIST

1. $250 Billion by 2030: Ambitious Goal

2. 27 Million Women Employed Globally

3. Technical Textiles: Global Export Potential

4. Natural Fibers: Cotton, Silk, Hemp

5. Technical Textiles: Highest Growth Rate

6. Decadal Outlook: Key Textile Insights

7. Textile Industry's GDP Contribution: 5% by 2030

8. Global Textile Market: Thriving Industry

9. Natural Fibers: Sustainable Choice for Production

10. Technical Textiles: Leading Growth with 15% CAGR

11. CII Report: Future of Textile Industry Unveiled

12. Textile Industry's Economic Impact in India

Latest Textile Events

08 November 2023, Mumbai

The world of textiles is undergoing a radical transformation as new and innovative fibers emerge to meet the needs of a growing population. These futuristic fibers offer solutions to the challenges of sustainability, functionality, and aesthetics that the fashion industry faces.

The Textile Revolution: Futuristic Fibers for a Sustainable Future

In this article, we will explore the cutting-edge developments and discoveries in fiber science that are revolutionizing the textile sector and examine how traditional materials are evolving to adapt to or compete with these new alternatives.

Cutting-Edge Fiber Science: A Paradigm Shift in Textiles

One of the most significant advancements in fiber technology is the development of bio-based fibers. These fibers are derived from renewable resources such as plant-based materials or agricultural waste, offering a sustainable alternative to traditional petroleum-based fibers.

Biobased fibers

Bio-based fibers are not only environmentally friendly, but they also possess unique properties that make them attractive for fashion applications. For instance, cellulose-based fibers like Tencel and Modal offer a soft, silky feel and excellent moisture-wicking properties, while hemp and flax fibers provide durability and breathability.

Bio-based Fibers: A Sustainable and Versatile Alternative

Another area of innovation is the development of nanofibers, which are fibers with diameters in the nanometer range. These ultra-fine fibers offer exceptional properties, including high strength, lightweight, and the ability to incorporate functional nanoparticles for enhanced performance.

Nanofibers

NARRATOR: Nanofibers have the potential to revolutionize a wide range of applications, including medical textiles, filtration systems, and protective clothing. In the fashion industry, nanofibers can be used to create lightweight, breathable fabrics with enhanced durability and stain resistance.

Nanofibers: Unveiling the Power of Ultra-Fine Fibers

Traditional fibers are also evolving to adapt to the changing demands of the fashion industry. Cotton, for instance, is undergoing a transformation through biotechnology, resulting in varieties with enhanced properties such as improved wrinkle resistance and moisture management.

Cotton fibers

Additionally, synthetic fibers are being modified to incorporate recycled materials, reducing their environmental impact and promoting circularity in the textile industry.

Evolving Traditions: Innovation in Conventional Fibers

The future of fibers is bright and promising. With continuous advancements in fiber science and technology, we can expect to see even more innovative materials that address the needs of sustainability, functionality, and aesthetics, shaping the future of the fashion industry.

A Future of Possibilities: Innovation Driving the Textile Landscape

Key insights :

1. Sustainable Fibers: Bio-based fibers offer a sustainable alternative to traditional petroleum-based fibers.

2. Functional Fibers: Nanofibers have exceptional properties, including high strength, lightweight, and the ability to incorporate functional nanoparticles for enhanced performance.

3. Evolving Traditions: Cotton is transforming biotechnology, resulting in varieties with enhanced properties such as improved wrinkle resistance and moisture management.

4. Circularity: Synthetic fibers are being modified to incorporate recycled materials, reducing their environmental impact and promoting circularity in the textile industry.

5. Innovation: The future of fibers is bright and promising, with continuous advancements in fiber science and technology that will shape the future of the fashion industry.

Latest Textile Events

14 November 2023, Mumbai

A Pivotal Role in Global Textile Production

India's textile industry has long played a crucial role in global textile production, currently standing as the third-largest manufacturer in the world. 

The industry's significance extends beyond production, as it serves as a major source of employment, particularly for women. Over 27 million women are employed in the Indian textile industry.

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Targeting $250 Billion by 2030

With a strong track record and a focus on innovation, the Indian textile industry is setting ambitious goals for the future. 

The industry aims to achieve a milestone of $250 billion in revenue by 2030, demonstrating its commitment to growth and expansion.

Technical Textiles: A Driving Force for Exports

Technical textiles, a relatively new high-tech segment within the industry, hold immense promise for global exports. 

These specialized textiles are used in a wide range of applications, from automotive interiors and exteriors to pharmaceutical products. Analysts project that the global technical textiles market will grow at a CAGR of 3.52%, reaching $859 billion by 2028.

Diverse Materials Drive Innovation

The Indian textile industry utilizes a variety of materials, including both natural fiber composites and conventional fibers. Natural fiber composites, derived from plants and animals such as cotton, silk, linen, wool, and hemp, are finding extensive applications in global textile production. These materials offer unique properties and contribute to the industry's innovation and sustainability efforts.

Technical Textiles Poised for Leadership

The technical textiles segment is expected to lead the industry's growth trajectory, with a projected CAGR of 15%. 

This growth is being fueled by the increasing demand for high-tech fabrics and the industry's ability to meet these demands through innovation and technological advancements.

Short Message

India's textile industry is a global force, playing a pivotal role in production, employment, and innovation. 

With its ambitious goals, focus on technical textiles, and diverse material usage, the industry is poised for continued growth and leadership in the years to come.

5 key insights :

• $250 billion target by 2030
• Driven by innovation and government support
• Sustainable and tech-enabled growth
• Addressing fragmented supply chain
• Upskilling unorganized sector

Latest Textile Events

08 November 2023, Mumbai

A recent report by Seshadri Ramkumar, Professor at Texas Tech University, USA, highlights the impact of declining global textile demand on the cotton ecosystem. 

The report notes that India, the second-largest cotton producer, is projected to experience lower output in the upcoming season, despite reduced cotton prices. 

This is due to several factors, including trade imbalances, high power costs in India, and reduced global demand.

Virtuous cycle

The decline in global demand is having a significant impact on mill operations, with unit closures and reduced yarn consumption reported in South India. 

Industry experts are recommending that textile companies closely monitor global economic trends, demand patterns, and supply dynamics before making expansion or inventory decisions.

Leap of faith

However, there is some hope for a revival of global demand, particularly during the Christmas season. If this occurs, it could provide a much-needed boost to the textile industry.

In addition to the above, here are some other key takeaways from the report:

The premium segment of the textile industry is expected to continue to perform well, despite the overall decline in demand.

Companies can differentiate themselves from the competition by innovating in terms of product design, materials, and manufacturing processes.

Moving ahead

Industry experts recommend Close monitoring and cautious optimism;  Expanding distribution channels to reach a wider customer base is another important strategy.

Companies can also improve profitability by controlling costs, streamlining operations, and negotiating better deals with suppliers.

Overall, the report paints a mixed picture for the textile industry. 

On the one hand, declining global demand is hurting production, prices, and mill operations. On the other hand, there is some hope for a revival of demand, particularly during the Christmas season. Textile companies need to be prepared for both scenarios by closely monitoring market trends and adapting their strategies accordingly.

5 key insights :

• Global demand down, India's output to fall
• Trade imbalances, power costs, global demand to blame
• Unit closures, reduced yarn consumption in South India
• Premium segment to perform well, companies to innovate
• Close monitoring, cautious optimism, expand distribution

 Latest Textile Events

07 November 2023, Mumbai

The Challenge of Traceability in the Fashion Supply Chain

The fashion industry faces the challenge of limited visibility and engagement with the different actors involved in forest-level operations. This makes it difficult to trace the origin and impact of raw materials. 

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Traceability is essential for ensuring that sustainability efforts are effective. It allows businesses to understand the social and environmental impacts of their clothing choices and make informed sourcing decisions.

Grasim Industries as a Model Partner

Grasim Industries is a key player at the start of the supply chain for man-made cellulosic fibers (MMCFs) such as viscose and lyocell. 

The company is committed to sourcing wood from suppliers who comply with credible forest certification standards, such as the Sustainable Forestry Initiative (SFI®) and the Programme for the Endorsement of Forest Certification (PEFC™). 

This certification ensures that the wood used to produce Grasim's MMCFs is sourced from responsibly managed forests.

Certification as the Cornerstone of Responsible Sourcing

Red-letter moments; Certification is essential for ensuring sustainable sourcing in the fashion industry. It provides third-party verification that materials have been sourced according to rigorous environmental and social standards. 

Certification also fosters transparency and accountability, giving businesses and consumers confidence that the products they buy are truly sustainable.

Sum and Substance

By working with reliable partners like Grasim Industries and choosing PEFC-certified MMCFs, retailers can improve the traceability of the materials they use in their collections and support sustainable forest management.

"The Challenge of Traceability in the Fashion Supply Chain" Insights:

• Fashion industry needs traceability.
• Traceability ensures sustainability.
• Grasim Industries sources responsibly.
• Certification is key to sustainability.
• Retailers can support sustainability.

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