The global fashion industry, India is a very big exporter
The global fashion industry is worth more than $2 trillion, and India is a very big player in it. In fact, the Indian fashion industry is expected to grow at a rate of 12% annually through the next five years. This growth is due in part to the increasing demand for affordable clothes in developing countries, as well as the burgeoning middle class in India. And with so much opportunity on the table, it’s no wonder that many successful designers and fashion brands are based in India. In this blog post, we will explore how the Indian fashion industry works and some of its biggest players. We will also provide you with tips on how to navigate this competitive landscape and start your own fashion label or business.
India is the fastest-growing major fashion market in the world
India is the fastest-growing major fashion market in the world and is expected to be worth $47.5 billion by 2021, according to a report by global consultancy firm Deloitte.
The Indian fashion industry is growing rapidly, fuelled by rising incomes and increasing demand for luxury goods. The country has a large population of aspiring consumers, as well as a growing middle class.
There are many well-known fashion brands operating in India, including Zara, H&M, Mango and Nike. Indian designers are also popular overseas, with names such as Sabyasachi Mukherjee and Kiran Gandhi seen as leading lights in the country’s contemporary fashion scene.
Despite its rapid growth, the Indian fashion industry faces several challenges. These include low quality production due to low investment in machinery and infrastructure; a lack of skilled workers; and a high level of counterfeit products.
The Indian fashion industry is worth $40 billion
The Indian fashion industry is worth $40 billion and is expected to grow at a rate of 10% over the next five years. This growth is due to increasing incomes, increasing middle-class population, preference for western brands in India, and increase in exports. The top five Indian fashion brands are Lululemon Athletica, Nike, Adidas, H&M, and Zara. The top five export destinations for Indian fashion are United States (18%), China (14%), United Kingdom (13%), Germany (12%), and France (10%).
The Indian fashion industry has been expanding rapidly due to a number of factors:
1) Increasing income levels – India’s GDP per capita rose from $2,100 in 2013 to $2,600 in 2016, which means that people now have more money to spend on clothing and other forms of luxury goods.
2) Increasing middle-class population – The number of middle class Indians has increased from 27% of the population in 2007 to 44% in 2017. As more people become middle class, they want to dress like the people they see on TV and in movies, which often involves wearing western brands.
3) Preference for western brands – According to a study by Mintel Research Institute*, 86% of Indians say that they prefer western brands over local ones when it comes to clothing. This trend is especially pronounced among young Indians: 85% of 18-to-24-year
India has become a major global player in the fashion industry
The global fashion industry is worth $2 trillion and India is a very big exporter. The Indian fashion industry has been growing at a rate of 19% annually for the past five years. India exported $27 billion worth of garments in 2016. This is more than any other country in the world. The Indian fashion industry employs over 1 million people.
The major players in the Indian fashion industry are Hindustan Unilever, PNB Group, America’s Next Top Model (ANTM), and Wipro Limited. These companies account for 75% of the country’s exports. The top four export destinations for Indian garments are the United States, China, UK, and France. In 2016, India’s garment exports rose 7% to $27 billion from $25 billion in 2015. This is mainly because of increased exports to the United States which amounted to $13 billion or 44% of total exports in 2016. Exports to China grew by 15% while those to the UK and France grew by 10%.
India’s top five fashion brands include Lululemon, Nike, Adidas, and Puma
There are a number of fashion brands that originate from India, and these five are among the most popular. Lululemon is known for its high-quality yoga clothing, Nike for its athletic gear, Adidas for its sporting goods, and Puma for its sneakers. All of these brands are major players in the global fashion industry and have expanded their operations into other countries. In 2014, India was the world’s leading textile exporter and accounted for a quarter of all global exports.[1]
The Indian fashion industry is growing very rapidly
The Indian fashion industry is growing very rapidly and, according to the World Bank, it is currently the world’s seventh-largest clothing producer. The sector employs around 60% of India’s workforce, making it one of the country’s most important sectors.
There are several reasons why the Indian fashion industry is booming. Firstly, there is a huge population base in India that is ready and willing to buy new clothes. Secondly, there is a growing middle class in India that has money to spend on fashionable items. And finally, India has a strong creative talent pool that can create stylish clothing designs.
This rapid growth in the Indian fashion industry has had some negative consequences. For example, many small designers who could not compete with larger brands have gone out of business. And although the quality of Indian fashion products generally meets international standards, there are some areas where improvements can be made.
Nevertheless, overall the Indian fashion industry is expanding rapidly and this will have a significant impact on global fashion trends in future years.
