Fashion: Indian Textiles and Apparel Industry Analysis
Introduction to the Indian Textiles and Apparel Industry
The Indian textile and apparel industry is estimated to be worth $66.5 billion by 2025, up from $47.9 billion in 2016. The sector employs around 393 million people, making it the world’s second-largest textile and apparel industry after China. India also accounts for about a third of the global market share for cotton fabric exports.
The Indian textile and apparel industry has been growing at a CAGR of 6%. It is expected to register an annual growth rate of 7% through 2020 and 8% thereafter, supported by large population base, rising disposable incomes, increasing consumer spending on textiles and garments, government initiatives to infuse more capital into the sector, expanding domestic production capacities as well as exports to overseas markets.
There are several reasons why the Indian textile and apparel industry is projected to grow at a high rate in the coming years. First, there is an increasing consumer demand for quality garments due to rising living standards and changing lifestyle preferences among Indians. Second, there is increasing investment interest in the sector owing to its high growth potential and robustness against global economic headwinds. Third, India has been able to maintain strong export performance despite global economic slowdown despite elevated raw material prices owing to ample availability of locally sourced materials as well as low labour costs in India. Fourth, expanding manufacturing capacities will help reduce input costs which will boost competitiveness of Indian garment products in international markets.
India’s textile and apparel exports have seen a steady growth over
Indian Textiles: A Brief History
The Indian textile industry is one of the largest and most diversified in the world. The country is home to some of the finest textiles in the world, and exports a large percentage of its production. The textile industry has a long and rich history, dating back to before the beginning of recorded history. Indian textiles are renowned for their quality, craftsmanship, and durability.
The Indian textile industry began with hand-woven fabric using local weaves and colors. As India’s economy grew, so did demand for finer fabrics. In the early 1800s, cotton mills were established in India to spin and weave cotton yarn into fabrics for export. These mills became major employers in towns all over India. Over time, other types of textiles were developed, including silk fabrics from Bomdila silkworms and woolen fabrics from sheep raised on mountain ranges throughout India.
Today, India is one of the world’s leading textile producers. The country produces a wide variety of materials, including cotton sarees (long dresses), shawls, blouses, dupattas (a type of scarf), kurtas (tunics), pajamas, pyjamas (nightwear), salwar kameez (lower-leg trousers), saris (wide-striped dress) and churidars (full-length trousers). Textile companies in India employ tens of millions of workers nationwide. In addition to producing traditional textile items such as fabric garments, bed
Indian Textiles: Types and Manufacture
The fashion market in India is currently worth over $30 billion and is forecast to grow further. Indian textiles are well-known for their intricate designs and vibrant colors. The traditional method of manufacturing Indian textiles is by hand, which results in a high degree of artisanal quality. However, the industry has been rapidly modernizing and adopting new technologies, which is resulting in increased output and lower costs.
There are two main types of Indian textiles: block prints and cholis. Block prints are created by printing fabrics on a large canvas using simple patterns. Cholis are an all-in-one garment made from a fabric panel that is sewn together at the sides to create a waistband and skirt. Cholis are often worn as part of everyday wear, such as skirts or trousers. Another popular type of Indian textile is the salwar kameez, which consists of a long tunic or shirt worn over loose pants.
The main manufacturers of Indian textiles include Benetton Group, E H Brooks Ltd., Godrej Consumer Products Ltd., Lifestyle Group (India) Private Limited, MNC Fashion Retailers Association (MFRAA), Shaheen Group Pvt Ltd., Titan Company’s Apparel Division and Welspun Engineering Ltd..
Indian Apparel: A Brief History
The Indian apparel industry is one of the largest and fastest growing textile and apparel industries in the world. The sector achieved a compound annual growth rate (CAGR) of 14.9 percent between 2004-09 and 2013-17, according to a report by the World Bank. The key drivers of this growth were rising incomes and population growth, both of which resulted in increased demand for clothing products.
The Indian apparel industry is highly fragmented with a wide range of sizes, shapes, colors, and styles available across the country. This diversity has made it difficult for companies to penetrate new markets or compete with each other on a global scale. However,Despite these challenges, several leading players have emerged in the past few years to dominate their respective segments. In terms of market concentration, the top three suppliers account for over 50 percent of India’s exports.
The Indian apparel industry is dominated by two major players—Bharti Airtel Limited (Airtel) and Hindustan Unilever Limited (HUL)—which together account for over 80 percent of the market share. Airtel has focused on expanding its presence in rural areas while HUL has been more focused on large cities. Several smaller players also exist but they are struggling to keep up with the bigger players’ expansion plans.
The key drivers of growth in the Indian apparel sector are increasing incomes and population growth. Increasing disposable income levels and growing numbers of consumers who are increasingly adopting Western-style
Challenges Facing the Indian Textiles and Apparel Industry
Indian Textiles and Apparel Industry is a $47 billion industry with a growing trend. The Indian textile and apparel industry is the second largest apparel producer in the world after China. The industry has witnessed growth due to factors such as increasing urban population, increasing disposable income, rising exports and increasing investments. However, the sector faces multiple challenges such as affordability, high production costs, inadequate infrastructure and low productivity.
Opportunities for the Indian Textile and Apparel Industry
The Indian textile and apparel industry is one of the fastest-growing manufacturing sectors in the country, with a compounded annual growth rate (CAGR) of over 17% between 2011 and 2016. The sector is expected to grow at a rate of over 20% through 2021.
There are several reasons for this sustained growth. First, rising income levels in India have led to increased demand for textiles and apparel products among consumers. Second, the government has initiated various initiatives aimed at boosting the textile and apparel sector, including measures such as cheap financing schemes and duty exemptions. Third, new players have started entering the market owing to increasing competition from global players.
Despite these positive trends, there are some challenges that the Indian textile and apparel sector faces. For example, high production costs make it difficult for manufacturers to compete in international markets. Additionally, there is a need to upgrade existing facilities in order to meet current market demands.
Conclusion
Indian textiles and apparel have seen tremendous growth in recent years, with exports reaching $22.5 billion by the end of 2016. This growing industry is supported by a number of factors, including high levels of demand from key global markets and strong manufacturing capabilities. As India continues to grow as a major player in the global economy, its Textile and Apparel sector will only continue to thrive.
India is a country with a rich textile and apparel history. This history has led to the development of unique textiles and apparel designs that are popular around the world. Indian textiles are known for their intricate designs, vibrant colors, and high quality materials. The Indian apparel industry is also growing rapidly thanks to rising incomes and increasing consumer demand in India and abroad. Domestic companies are investing in new production facilities, while international brands are expanding their operations into India to take advantage of the country’s large market potential.
