Sectoral Capsule-Apparel Market in India (2009 - 2018)
The Indian apparel industry has a wealth of potential. The market is expected to grow at the CAGR of15 percent from 2013 to 2018. Several international players are entering the market to tap into itslatent the prospects. The approval of 100 percent FDI in this sector by Indian government hasfurther augmented the entry of foreign brands.
By 2018, India is predicted to emerge as one of the top five global apparel markets, driven primarilyby increasing demand for women’s wear. The growing fashion consciousness and rising number ofworking women has led to expanding demand for women’s apparel.
Another significant boosting factor for the apparel industry is the boom in e-commerce. Due to itsimmense potential, the apparel e-tailing industry has attracted investments worth USD 70 million in2014.
By 2018, the Indian apparel market will also see the emergence of strong domestic brands which willhave the competitive advantage of comfort with local trade dynamics. Apparel retailers and brandsshould focus on smaller cities and towns, where larger proportion of Indian population exists.Further, domestic players should endeavor to reduce the gap between their manufacturing patternand international supply chain. Domestic manufacturers need to develop a customer focus throughvalue-added services like inventory management, product development and IT tracking.
The Indian apparel market is expected to gain from export, as a rise in trade opportunity in Asia andthe USA is observed. Higher wages for workers, political instability and inappropriate workingconditions is shifting international buyers toward Indian exporters.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook