24 October 2023, Mumbai
Why India
Five D's
Democracy
Demand
Demographics
De-globalisation
De-regulation
India, with its large and growing population, booming economy, and rising middle-class, is a lucrative market for global fashion brands. By 2025, India will have over 1.4 billion people and 547 million middle-class consumers, who are increasingly opting for quality and branded products.
The fashion industry in India is also benefiting from the expansion of e-commerce and digital marketing, which enable brands to reach a wider and more diverse audience.
India's Fashion Industry: Going Global
India’s fashion scene is not only thriving domestically but also gaining recognition and influence globally.
The e-commerce boom is creating new opportunities for fashion retailers and manufacturers to showcase their products and services to the world.
India’s fashion sector is poised to become a major player in the global market with its unique blend of tradition and innovation.
India: A Reliable Partner for Global Fashion Brands
India’s democratic credentials also make it an attractive destination for international fashion brands. As the world’s largest and most vibrant secular democracy, India fosters a stable and conducive business environment. It shares common values with many of the world’s leading economies, making it a reliable partner for reshaping global supply chains and relocating production.
India's Fashion Industry: Responding to De-Globalization
India’s fashion industry is also responding to the challenges and opportunities posed by de-globalization. Globalization has increased competition and affected local artisans in the fashion sector.
This has prompted fashion brands to look for new markets and sources of inspiration in developing and lower-middle-income countries like India. India offers a rich and diverse cultural heritage, as well as a young and dynamic workforce, for fashion brands to tap into.
India's Fashion Industry Outlook: Optimistic
India’s outlook for the fashion industry is optimistic, as evidenced by the entry of numerous international brands into the market.
While some have faced difficulties adapting to the local context, India remains a prominent growth opportunity for the global luxury market.
India offers a stark contrast to the saturated and stagnant Western markets with its vibrant and diverse fashion culture.
In Summary
India is a rapidly growing and evolving fashion market with tremendous potential for global brands.
Its unique blend of tradition and innovation, as well as its young and dynamic population, make it an attractive destination for investment and expansion.
