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The Good Effects Of Indian Demography In Fashion Space

18 August 2022, Mumbai:

Prologue
There's great promise in the fashion industry in India--but challenges as well| McKinsey.

Fashion often refers to a current trend or style. The phrase fashion goods refer to a broad range of things, including apparel, cuisine, fragrance, music, vehicles, and cosmetic products. The worldwide business community now considers fashion to be essential. 75 million people were employed by the worldwide fashion industry in 2012, which had a value of USD 1.7 trillion.

The clothing/apparel and textiles sector contributed the most to the fashion retail sector. Who are the consumers who are likely to shop for fashion? must be answered in order to sell fashion clothing efficiently. Understanding the answer to this issue will enable marketers of fashion items to focus their marketing efforts on the right target markets.

 

What comes under demography

One of India's oldest industries is the textile and apparel business. The Indian Brand Equity Foundation (IBEF) claims that the textile industry is special in contrast to the industries of other nations due to its tight linkage to agriculture and the old culture and traditions of the country in terms of textiles.

While names like Zara, Armani, Forever21, or Uniqlo appeal to Indian consumers and generate greater per square foot sales than departmental or hypermarket stores, labels like Benetton, Zodiac, Z3, Zara, Vero Moda, Calvin Klein, Diesel, and Tommy Hilfiger have seen excellent sales growth in the nation.

India's national demography

Consumer behaviour refers to the steps taken by people, groups, and organisations to satisfy their wants and desires by looking for, purchasing, utilising, and discarding goods, services, ideas, or experiences. These actions are completed in a systematic manner, commencing with the identification of a need, followed by information research, purchasing, and post-purchase assessment.

One research gate study has noted a positive correlation between agreeable, extroverted, open-minded, and stable with fashion shopping in the Indian clothing market. In addition to the exterior situational settings that influence consumer decisions, a number of crucial internal elements are known to have an impact on purchasing behaviour.

Consumer demographic traits including age, gender, marital status, employment, education, and income are included in these internal variables.

Meaning of Indian demography

Continuous patterns, such as shifts in age, gender, and income distribution, which indicate commercial prospects, are shown by demographic statistics.

The evaluation of several characteristics that are often connected with clothing is significantly influenced by demographic considerations.

Higher socioeconomic class consumers will favour a certain kind of clothing that they believe will meet their demands. Similar to how purchasing decisions would depend on age. It's possible that older buyers don't value the same qualities in clothing as younger shoppers do.

India's national demography

Marketers are interested in the number and types of households that own and/or purchase particular products, and they have also come to realise the advantages of focusing their advertising efforts on particular marital status subgroups.

For many goods and services, the household continues to be the relevant consuming unit.

As per one of Wazir advisor's reports," India’s medium- to long-term growth and its positive impact on private consumption will be determined by the interplay of demographics and urbanization".

Indian demograph

Income, education, and employment are further demographic factors. Although income has long been a crucial demographic factor for identifying markets, targeting a market only on the basis of money has significant drawbacks because it only shows a consumer's ability to make a purchase.

As per one of Wazir advisor's reports," Moreover, the younger population is naturally pre-disposed to adopting new trends and exploration given their education profile and their exposure to media and technology. This backdrop manifests as an opportunity for domestic consumption in the form of branded behaviour, organization retail, and product designs".

In light of this, this study looked at the combined influence of demographic factors on clothing/apparel customer purchasing behavior substantial rise in the working age population (from 36 percent in FY 2000 to 48 percent in FY 2016) augurs well for the growth momentum of the Indian economy going forward, as it will lead to rising income levels.

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Festivity: Its Impact On Fashion Retail

18 August 2022, Mumbai:

Preview

With customers buying clothing, footwear, and accessories in more significant numbers than anticipated in advance of a lengthy list of festivals beginning with Dasara and finishing with the wedding season, fashion businesses have many reasons to rejoice this holiday season. Sales and bill sizes for retailers' holiday collections have increased by 15% to 20% thus far this season.

According to one KPMG report," Empowered consumers, digital disruption, rising costs and shifts in purchasing behavior are challenging today's consumer and retail businesses. Festive Success But Head Winds for 2022".

Despite the general downturn, marketers have made a concerted effort to pack a punch to maintain holiday spending. Marketers have been working hard to charm their customers around festivity and festival by offering value-based freebies like dinners, movie tickets, or beauty services and maximizing in-store discounts and loyalty club advantages. According to early studies, consumers are savoring attention.

 

Festivity at number one

An additional benefit is that the holiday season began earlier this year, in October than last year. Retailers with a national presence report a noticeable increase in sales at their locations in the East and South, where Dasara is enthusiastically observed.

According to Vinay Bhopatkar, Brand Head at Van Heusen, early signs of the holiday shopping season in Kerala and the East show higher expenditure, particularly on clothing and accessories. We predict this pattern will hold throughout India over the future holiday seasons. Additionally, to encourage consumer foot traffic during the season, they have solid marketing activities in place, Bhopatkar continues.

Festivity calendar 2022

Due to increased shopping before the local pujas, Max Retail reports that their same-store sales in the East surged by an astounding 80% on their holiday assortment. We have noticed a rise in shopping since Onam.

According to one KPMG report," Uncertain outlook for 2022 if consumer confidence falls, as costs continue to climb for the retail sector".

We are witnessing a more informed and discriminating customer. They don't want expensive goods, but they aren't prepared to forgo the newest fashions, according to Vasanth Kumar, executive director of Max Retail.

Festival awakenings

Special days called celebrations are observed all across the world. Every culture has a unique holiday collection that reflects its long-standing rituals and traditions. Celebrations significantly impact the fashion business in terms of attire, theme decorations, and a variety of other aspects.

Celebrations have an impact all year long, but they are particularly noticeable during festival seasons when activity levels are higher than usual. Most individuals dress for the festivals, whether they are religious or cultural. Depending on the type of event, several types of clothing can be worn, such as long gowns for weddings and shorts, a genuine chrome hearts sweatshirt, and jeans for a nightclub party. This demonstrates how strongly festivities affect the fashion world.

Festival clothes

As fashion tastes shift, casual ethnic dress has become the favored choice as time passes. Ethnic clothing, including salwar-kameez, kurtas, palazzos, dhoti pants, and sharara suits, became trendy during these periods. These modern styles may be purchased at in-store and online shops that provide great shopping deals and attractive trends.

Shopping during festivals is fun for everyone since there are tonnes of the newest clothes for both men and women. It's also time for fashion designers to display their artistic talents via their festival collections.

They provide apparel that is both stylish and comfortable. It may be a runway collection displayed at a fashion show or exhibits, and stores open only during festival time.

IN SHORT

Consumer buying habits alter throughout the festival season. Due to increasing investment in the textile industry, consumers are more inclined to purchase celebratory clothing. Urbanization is one factor that affects consumer buying behavior.

Every year, a rising graph showing increased sales over the holidays is seen in the fashion business. As per one KPMG report," Pent up demand, especially for new clothes, has so far been at significant enough levels to keep the overall retail sector in relatively good health".

Additionally, everything is now clear because of the internet's accessibility to information, which has significantly contributed to consumer behavior changes.

One of the other elements influencing the evolution of the fashion industry is the availability of reasonably priced clothing for online purchasing.

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FestivalSales

After all Apparel Industry Is All About Seasonality

17 August 2022, Mumbai:

Apparel industry overview

Seasonality is something that manifests itself in the apparel/fashion industry According to one EDITED report," Apparel seasonality is shifting. Retailers are increasing summer apparel more than winter apparel and consumers are into it."

Waiting for a week typically results in discounts on many of the same expensive things bought during the holidays. As a result, some people could decide to give gifts after the customary holiday because they can save a lot aware of seasonal pricing.

For travel and tourism, it's equally critical to comprehend seasonality. When choosing the best time to travel, it can be helpful to know when the busiest time of year will be and how it may affect the cost of transportation, lodging, and entertainment.

ALSO READ  Upcoming festive season will boost apparel sales in India, hope retailers

 

RELATED NEWS .  Rising inputs costs compel retailers to hike apparel prices

Apparel industry in india

According to one research gate report," Demand forecasting of fashion apparel products has to cope with serious difficulties in order to get more accurate forecasts early enough". One of the sectors with the quickest rate of growth is the textile and apparel/garment sector, which employs millions of people.

These factories process textiles by using hazardous chemicals, which increases environmental contamination and raises public awareness. This has led to the adoption of environmentally friendly enzyme-based treatment methods by textile manufacturers, with fungi serving as the primary microbiological source of these enzymes.

ALSO READ Retailers optimistic as apparel sales clock growth in March

Apparel industry business process

It also impacts managing a hospitality company and making decisions about how to estimate staffing and employment needs. Better planning, budgeting, and long-term capital allocation can result from knowing when to engage seasonal staff to prepare for a spike in visits. To be a wise investor, one must comprehend the seasonality of stock upticks and downturns. Companies frequently seek to improve specific indicators near the conclusion of the fiscal year to attract additional investors.

It may be beneficial to buy or sell shortly after learning how the earnings season may affect the trading activity and share prices. The pandemic's start and stop have clouded the pricing picture, and since it has persisted long enough, the COVID-19 economy of today is being compared to the COVID-19 economy of last year, weighing the ridiculous with the downright insane.

 

ALSO READ Rising cotton cost compel Indian fashion retailers to hike apparel prices

Apparel industry business model

Last month, prices for all goods and services increased by a seasonally adjusted 0.8% compared to October, which was somewhat more than expected by economists. Still, they were up 6.8% compared to a year earlier, which was a significant change.

Prices for apparel/clothing increased by 1.3 percent from month to month and by 5% from year to year. New technologies like digital fitting rooms and virtual assistants have improved in-store customer experiences for brands.

Additionally, the development of Blockchain Technology, Artificial Intelligence, Metaverse, and other technologies will assist firms in releasing premium products into the market more quickly and generate more income. According to estimates, 32% of fashion executives believed that in 2022, digital technologies would present many prospects.

ALSO READ Consolidation Is In The Air: How Is It Affecting Textiles & Apparel Industry

Apparel industry during covid

Different consumer markets and sourcing locations will recover from COVID-19 shocks in different ways. Nations with strong healthcare systems and resilient economies will succeed.

In this situation, fashion executives should prioritize investment choices and continuously assess the location risks. Many fashion and apparel/garment companies will be able to recover some of their lost value in 2022 as a result of the pandemic. 

Apparel industry essay

According to one apparel resources report," The concept of seasons in the fashion industry started because people needed season-relevant clothing due to the extremities in weather.

Businesses in the fashion and apparel industries will benefit from the development prospects in 2022 because they will be able to produce higher-quality goods faster, do their part for the environment, and make a profit. Companies need to be more open with their customers in order to meet their expectations and overcome the difficulties of supply chain management.

By utilizing circular business models, eco-friendly materials, and sustainable technologies, brands can become more sustainable. Retailers and clothing brands can put in a lot of effort to overcome these obstacles and look forward to better chances in 2022.

Currently, given the looming increase in macroeconomic uncertainty, managers in the apparel/fashion industry regarding how the coming market & festive season will pan out in the near/midterm future and what the right corporate & marketing strategy is to cope up & sail through.

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Seasonality

Why Price Inflation Is Adverse To Apparel Industry Prospects

05 August 2022, Mumbai:

Apparel industry introduction

As per Investopedia's definition," Price inflation is an increase in the price of a standardized good/service or a basket of goods/services over a specific period of time (usually one year)".

A historical period of drops in online retail prices has now been followed by an unprecedented 15 months of price increases, according to a new study from Adobe Digital Insights. According to the research, pet items, non-prescription medications, apparel/clothes, furniture, and floral arrangements are among the areas affected by inflation.

The trade pundits are increasingly getting convinced by now given the hardening of inflationary trends playing out in the background & semblance it is very likely to result in disruptions in the apparel global supply chains and escalate volatility in the global trade including the apparel market.

As per the KPMG study," Our analysis found that global inflation could average between 4.5%-7.7% this year and between 2.9%-4.3% in 2023".

ALSO READ Persistent Inflationary Forces Playing Out & Its Impact On T&A

 

Apparel industry news

E-commerce transactions are expected to represent soon about $1 of every $5 spent by Americans, up from $1 of every $6 in 2017, according to Adobe, due to the industry-wide surge in digital sticker prices.

The economy index maintained by Adobe Digital Insights keeps track of more than 100 million products across 18 categories and more than 1 trillion visits to U.S. retail websites.

Apparel industry overview

The apparel/garment business is currently dealing with inflation, which has only been this severe in the last 15 years. After a decade of widespread deflation, retail garment prices are again under pressure to rise.

According to one KPMG report," Many retailers have engaged in fierce price competition, which now means that customers are rarely willing to buy clothes/apparel at full price anymore".

Since 1997, the apparel/garment business has not seen inflation. In December 2007, garment/clothing costs increased. Prices for yarns and threads, greige fabrics, industrial textile products, and completed fabrics increased by 1.3 percent, 0.7 percent, 1.0 percent, and 0.9 percent, respectively."

Apparel industry & price industry

While greige materials increased by 2.8 percent, industrial textile products by 2.2 percent, and completed fabrics by 2.3 percent in January 2008, yarns and threads increased by 4.9 percent.

One of the KPMG reports, very clearly articulates that," The adverse scenario with higher discounting rates and similar inflation rates is likely to lead to different results and conclusions than the previous stress".

There is a very occasional time for the sector and exporters because it entails a double whammy of rising pay demands and input costs. However, many prosperous and developing economies worldwide also feel the pressure, not only the Indian sector.

China's official consumer price inflation rate has risen from 3 percent a year ago to an all-time high of 8.5 percent.

The global recession is also hitting/hurting the textile industry very badly.

In fact, by mid-summer, inflation rates in five of the ten largest rising nations may reach 10% or higher. Then, double-digit inflation may be a problem for two-thirds of humanity.

Will this result in a decrease in the demand for and consumption of clothing or the industry's profit margins?

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ApparelRetailer

Fashion Industry & 3D Avatar

18 August 2022, Mumbai:

Bird's Eyeview

In the fashion world, navigating the internet buying experience across numerous channels may be stressful since it can be challenging to determine the fit and size of a particular product. This condition creates a perplexing predicament that pressures both the buyer and the seller. 3D avatars are used as a model to better comprehend how things fit together.

Customers may accurately make purchases with the aid of interactive 3D product viewing and configuration.

 

3d avatar for streaming

A showroom tour streamlines tailored and intelligent consumer solutions that result in rapid product discovery. The virtual characters in these online shops serve various functions, from being essential to the buying experience by displaying the goods to guiding customers through suitable interaction.

3d avatar illustration

In the fashion world, the difficulty of determining the fit and size of a given product may make the internet purchasing experience across numerous channels daunting. Due to the pressure, this circumstance puts on both the buyer and the seller, a perplexing scenario results. 3D avatars act as a model, which makes it easier to comprehend the fit.

Customers are assisted in making appropriate purchases through interactive 3D product viewing and configuration. A showroom tour makes intelligent and individualized consumer solutions that make rapid product discovery more efficient.

In these virtual stores, the virtual avatars serve several functions, from crucial to the buying experience by showcasing the goods to guiding customers through suitable interaction.

3d avatar generator from photo

The most notable change we are now seeing that has been influenced by the epidemic is the proliferation of online fashion and augmented reality (AR) clothing. Shortly, they're anticipated to become a way to dress your avatars in online games and virtual meetings, even while lounging at home in your pajamas.

A digital avatar is a picture of a person or a user's persona acting in a certain way. This may be a 3D character like those in video games and virtual worlds, or it could be a 2D symbol like those on social networking sites and forums. A tech-savvy group of fashion aficionados developed the social media-driven trend.

Create a 3d avatar of yourself

A 3D avatar's body measurements are taken to guarantee size homogeneity and create new fashions. These digital avatars reduce the cost of sampling and speed up 3D fit analysis during the early stages of product development. To evaluate clothing draping and stress behavior as the body moves to extreme positions for fit purposes, avatars can be animated to fit positions. This feature makes it considerably simpler to get to a well-fitted authorized production sample by allowing you to try to solve fitting-related concerns digitally early in the garment design phase.

3d avatar

For the virtual runway, 3D artists have total control over their avatars. 3D avatars that seem genuine have been created and animated for virtual fashion presentations.

With the current 3D technology, there are many possibilities for producing unique and authentic digital avatars. Digital avatars that have been built are capable of various dynamic poses and natural, synchronized body and attire movements. When original camera angles, lighting, and backdrops are used, a 3D digital clothing presentation that is professional, amusing, and creative is produced.

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Fashion Industry & 3D Avatar

CRISIL: FY23, Apparel retailers to clock 21-23% revenue growth

12 August 2022, Mumbai:

What is apparel retail industry

The apparel retailing industry broadly entails comprises businesses/enterprises engaged in the business of selling viz women's, men's, children's, and infant's apparel constituting categories such as formal wear, activewear, evening & nightwear, athleisure, beachwear, celebration, ethnic wear, casual wear, outerwear & so and so forth.

Operating margin1 to expand, but inflation to limit it below pre-pandemic levels.

A combination of strong same-store sales, new store launches, and higher contribution from online channels will sew 21-23% revenue growth for apparel retailers this fiscal, or ~500 basis points (bps) more than the pre-pandemic (fiscal 2020) level, despite elevated inflation impacting discretionary demand.

ALSO READ  Upcoming festive season will boost apparel sales in India, hope retailers

 

RELATED NEWS .  Rising inputs costs compel retailers to hike apparel prices

CRISIL REPORT OUTLINES

Operating margin will improve 175-200 bps on year to 7.75-8%, supported by an increase in scale leading to better fixed-cost absorption, price hikes, and a greater share of private labels. However, higher input prices will cap the operating margin 50-70 bps below the pre-pandemic level. Among the key inputs, domestic prices of cotton almost doubled between April 2020 and May 2022.

Despite some moderation since June 2022, they are expected to remain higher than what it was before the pandemic.

A study of 46 CRISIL-rated apparel retailers, which account for more than a third of the organised sector’s revenue of ~Rs 90,000 crore, indicates as much.

ALSO READ Retailers optimistic as apparel sales clock growth in March

Garment and Retailers

Says Naveen Vaidyanathan, Director, CRISIL Ratings, “Revenue growth of apparel retailers will be driven by better same-store sales and higher contribution from new stores set up in the past 2-3 fiscals. These had contributed sub-optimally during the pandemic.

Additionally, rising average selling price and transaction size are helping offset in-store footfalls that continue to trail pre-pandemic levels amid high inflation".

CRISIL Ratings expects large apparel retailers to grow faster at 25-30% this fiscal, compared with 10-15% by their small and mid-sized counterparts2. This would be on a relatively lower base as the large ones, being predominantly situated in malls and high streets, were impacted more by the pandemic-related lockdowns.

 

ALSO READ Rising cotton cost compel Indian fashion retailers to hike apparel prices

Role Of FDI

Clothing retailers and brands

They will also lead the improvement in operating margins with ~250-300 bps expansion this fiscal. Because of higher fixed costs, their operating margins were more negatively impacted during the pandemic. That situation will now reverse. Moreover, they typically have stronger and well-established brands that command higher gross margins compared with mid-sized apparel retailers.

CAPEX

Capex by apparel retailers is set to rise over 30% on year this fiscal because of the improvement in demand. Apart from store expansions, the addition of warehousing space and investment towards brand acquisitions, a significant part of the spending would be to augment tech platforms and online offerings. The share of online channels in the overall revenue of apparel retailers is expected to cross 15% this fiscal vs ~5% in fiscal 2020.

 

Fashion retailers by revenue

Says Shounak Chakravarty, Associate Director, CRISIL Ratings, “The expected improvement in cash accrual, which will largely fund CAPEX, will strengthen the credit profiles of apparel retailers this fiscal. Debt metrics are seen comfortable with gearing below 0.5 time and interest coverage set to improve to over 10 times this fiscal, compared with ~6 times last fiscal. Balance sheets are already sound with several apparel retailers having raised equity even during the pandemic".

Summing-Up

In the road ahead, further waves of the pandemic, resultant lockdowns and mobility restrictions, and higher-than-expected input cost inflation that could lead to downtrading and ultimately affect profitability would bear watching.

Apparel retail companies in India.

1 Operating margins are calculated on a pre-IndAS basis, with lease payments treated as an operational expense

2 Large retailers’ revenue is typically more than Rs 1,000 crore, with a pan-India presence.

(CRISIL report) The article has not been edited by DFU Publications staff

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CRISIL: FY23, Apparel retailers to clock 21-23% revenue growth

How Is Looming Global Recessionary Fears Impacting Indian Textile

17 August 2022, Mumbai:

Textile Industry Outlook

Imported inflation pressure remains the overarching risk. According to Upendra Prasad Singh, the textiles secretary, Indian textile makers are beginning to see a slowdown in demand due to rising energy and food costs that have reduced demand for goods like curtains and bedspreads in the US and Europe's key export markets. Inventory levels are pretty high at the time.

According to Textile Secretary U.P. Singh, the Ministry of Textile demand has decreased due to the US's high inflation rate, particularly for home textile items since they are more price-sensitive than clothing and apparel.

 

Is the global economy headed for recession

According to the most recent data on industrial and services activity, the US and European economies are facing bleaker prospects. Recession risk is being exacerbated by high energy prices as a result of the conflict in Ukraine, supply chain delays as a result of pandemic-related lockdowns in China, soaring commodity prices, and rising interest rates.

Global recession fears 2022

India's exports have also declined sequentially after reaching an all-time high in FY22. The nation's trade imbalance came to a record in June due to a substantial increase in imports of gold and oil.

"While demand isn't as strong as it was a year ago, there are still chances. The China plus one approach is being used by other nations. Sri Lanka is likewise clearing out space in the industry. He boosted export development through free-trade agreements with Australia and the United Arab Emirates. 

Global recession fears loom large

In addition to outsourcing labor and production, the US imports raw resources from foreign nations. Consumers are starting to reduce their spending due to the stress the US is experiencing and the potential for an impending recession.

Consumers' worries are being stoked by recent reports on bankruptcy rates and a decline in employment growth. The fashion sector is probably going to feel the effects of this. The taste of consumers may shift in the following months from luxury items to necessities. They'll be inclined to seek ways to save money.

Global Recessionary Fears

Sakthivel, President of the Tirupur Exporters Association, said, "There would undoubtedly be some impact on textile shipments to the US." Items with lower value and a price tag of $3 to $7 per piece will be less impacted. On the other hand, there is a positive rise in domestic demand. The market seems promising and is expanding steadily. 

How to prepare for global economic collapse

To balance their profits, Indian clothing producers are increasingly concentrating on the request of wealthy consumers in the home market.

According to Virendra Sharma, the president of Oswal Wool Mills in Ludhiana, which owns the Monte Carlo brand, As much since 85% to 90% of our output is for the domestic market as the demand has been fantastic in the nation these previous two quarters, according to the news.

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Inflation

Textile Sector: Investment V/s. Job Creation

05 August 2022, Mumbai:

Outlines

The textile industry is the only sector in India that offers skilled and unskilled laborers a significant amount of employment.

Enhance the nation's primary industry; is necessary. It also contributes significantly to job generation, second only to India's retail industry, which accounts for more than 10% of the nation's GDP and over 8% of all employment.

ALSO READ Persistent Inflationary Forces Playing Out & Its Impact On T&A

 

RELATED NEWS .  Rising inputs costs compel retailers to hike apparel prices

Report for IndianTextiles

More than 4.5 crore people are employed directly in the textile industry in India, while a further six crore people, primarily women and rural residents, are used in associated industries.

Both domestically and internationally, the Indian textile industry is significant. It is regarded as the second-largest industry for manufacturing fibers, yarns, and fabrics and is of great significance globally.

ALSO READ China Penalty Tariffs on Finished Textiles & Apparel

Policy Interventions

The Modified Technology Upgrading Fund (ATUFS) scheme, introduced by the Indian government, is being implemented for the textile sector with a cost of $17,822 crore from 2016 to 2022 to attract $1 lakh crore in investment. By 2022, this is anticipated to produce 35.62 lakh job openings in the textile industry.

The sector can favorably impact the ecosystem with this plan and the most recent implementation of the PLI scheme for textile, which aims to attract investment of $19,000 crore for the manufacturing of high-value synthetic fibers, fabrics, garments, and technical textiles. Ministry of Textiles' concerted efforts to skill the labour force in textiles and technical textiles value chain under SAMARTH is also a right scheme in the right direction.

 

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Role Of FDI

invest India textiles

Foreign investment, retail sector expansion, private sector involvement, and global cotton demand have been some of the industry's main growth drivers. For the textile industry, the rise in the FDI limit in multi-brand retailing has benefited because it has increased competition and given consumers more choices.

Outsourcing is expected to increase as foreign companies establish themselves in the domestic market. Population expansion has been an additional important driver in the increase in employment in the sector.

According to one KPMG report," Moreover, the industry and the Government could come together for attracting investments and creating support infrastructure for emerging sectors like Textile, other job-creating sectors.

 

Job creation in India

Apart from jobs in the tech industry, job openings in nine critical sectors, such as manufacturing, IT, and financial services, have increased at an average annual rate of 3.42 percent since 2014, according to the Ministry of Labor's most recent survey on the overall picture of the employment situation in India.

According to projections based on a study of 10,900 businesses, these industries—which include manufacturing, technology, financial services, and commerce—will employ 30.8 million people by the end of June 2021, up 29% from the 23.7 million used at the end of March 2014, the last time the survey was done.

Summing-Up

Simply put, high-quality products will be made possible by intelligent R&D, more robust product standards, joint ventures and partnerships, regulatory standards, and government backing for workplace safety efforts. India's total textile exports in 2015–2016 reached $40 billion thanks to technological developments. $223 billion was predicted for the sector by 2021.

However, due to the ongoing pandemic crisis, the demand for yarns and fabrics remained muted throughout the first half of FY 2020–21.

The industry anticipates a recovery and significant employment by the second part of the 2021–22 fiscal year, with incomes normal throughout the textile value chain and recent government announcements of different programs, including PLI.

According to one ET report," Increasing investments in infrastructure development, skill upgrading, digital augmentation, job creationand MSME development could help country aligning us to the vision of current dispensation of hitting 5$ tn dollar economy.

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Textile Sector

The Fashion Industry Is All About Chic Styling!

30 July 2022, Mumbai:

The fashion business in India

Indian fashion is renowned for its colorfulness, elegance, and cultural history. It highlights the nuance and beauty that have endured for many years. It has grown over time and is not only cozy, elegant, and aesthetically pleasing.

The fashion business in India has made a dramatic entrance onto the current global scene.

It is a fusion of vibrant customs. From ethnic to western, salwar kameez to high-street design, India's fashion business has undoubtedly through several changes.

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Textile Industry: An Overview

India's fashion business benefits from having tens of thousands of years of rich heritage and knowledge behind it, as well as from the fact that the fashion for sewn clothing has existed in India since ancient times.

One of the main sectors of India's capital goods sector is the textile industry. According to a survey by the Indian Brand Equity Foundation (IBEF), India is the world's second-largest exporter of textiles.

Additionally, it is anticipated that the Indian textile and apparel sector will experience significant expansion over the next several years due to favorable demographics and rising income levels. India has a thriving fashion sector, from elaborate attire for wedding rituals to casual apparel.

 

ALSO READ Virtual Release of USFIA's Ninth Annual Fashion Industry Benchmarking Study

Heritage

Crewel, Chikhan, and Zardosi, traditional Indian embroidery techniques, have made their way to the international front of the fashion catwalk, showcasing Indo-Western attire as a synthesis of the best of East and West. In addition, India is known for its distinctive blend of cotton and silk sarees, including those from Kanjivaram, Mysore, Pochampalli, Jamdani, Blucher, Pithani, Benarasi, Bandhini, and Sambhalpuri, among others.

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In India, the fashion industry has grown by USD 100 billion, and over the next five years, the online fashion market is predicted to increase by 15%.

Offline, the industry is forecast to develop at a CAGR of 8–10%. India's fashion business is highly lucrative in scope and variety, especially for women.

The corporate appearance has been increasingly popular in today's society due to the rapid development of information technology. Still, the rebirth of the ethnocultural look has become somewhat dominating, popularising the older styles of art and craft.

 

 

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Visual Business

Visual Brand Strategy for Your Fashion

Visual branding is an important piece of the puzzle to growing brand recognition & loyalty for your .

The corporate appearance has been increasingly popular in today's society due to the rapid development of information technology. Still, the rebirth of the ethnocultural look has become somewhat dominating, popularising the older styles of art and craft. 

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Pandemic & Its Effect

The pandemic caused a significant slowdown in the fashion industry in 2020. People started investing in designer masks and comfortable clothing in place of designer clothing. The Covid-19 pandemic profoundly impacted the worldwide fashion business, causing anything from changes in consumer behavior to digital fashion weeks.

However, one positive outcome was that the fashion business became wiser regarding social and environmental responsibility. We discussed the season's hot topics of sustainability, optimism, and digitalization with famous fashion choreographer and Runway Director Jagnoor Aneja. She provided us with a list of the newest fashion trends.

RELEVANT NEWS Fashion designers ride on NFT bandwagon

How Secular Is Trend?

The availability of clothing sizes has changed globally due to the increased knowledge of body positivity and body shape acceptance. Now they range from pregnancy to size-inclusive fashion to plus size.

In addition to using regular sizes, several designers also provide plus-size options in their collections.

Plus-size models dominate the fashion industry, from editorial shoots to ramp walks.

Curvy women have suddenly gained popularity as new fashion icons.

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