User:India fashion

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[edit] INDIA FASHION INDUSTRY

A Brief

The India Fashion scene In the 50s, 60s and 70s was quite different from the present scenario. There were no designers or labels to boast of and the garment’s cost depended on the apparel material and style. Bollywood (Indian Film Industry) had a major mark on fashion during this and the Local retail outlets followed their trends. In the early 80s the trend still remained traditional like in womens wear we still had Salwar kameez, sarees and Churidar kurta but with the television entering in Urban house holds western fashion trends started becoming noticed in India and another style emerged that was indo-western style which was a blend of Indian fashion and western fashion. This is the era in which many of the present Top Indian fashion designers started off with their own brands. Although these brand had very few buyers as the designer label concept had just started off. With the evolution of designer stores in the 2000’s along with the Indian economy boost the 20th century trend changed and the Garments were sold at exhorbitant prices only because of the labels and designer associated with them. It became important for fashion designer to have promotional events like fashion shows.

Domestic Market

Indian government has allowed FDI ( foreign direct investment ) which has bought many international brands to India. As the economy grows and metro culture spreading its roots Indian women are putting away their traditional gear and switching to western wear. Even many corporate offices are also in favor of their employees wearing Western wear. It's been reported that women spent just $165 million on trousers and skirts compared with 1.74 billion dollars spent by men on trousers. As more and more women are stepping out to work, the branded western wear market has been growing at 25% percent annually which is great as per any standard.

The total apparel market in India is said to be about Rs 20,000 crore in which branded market's is nearly one fourth of this or Rs 5,000 crore. Designer wear, in turn, covers nearly about 0.2 per cent of the branded apparel market.

Global Market

India is a very major player after china in the fashion global market. Indian designs, materials and quality are appreciated world over. Lot of Indian designers have also started partipating in various fashion week’s for more international exposure. India's positive points depends on its competitive pricing due to quality raw materials and easy availability of cheap skilled labour. India is the 3rd largest producer of cotton, the 2nd largest producer of silk and the fifth5th largest producer of man-made fibres. As the worldwide designer wear market is touching $35 billion and with Indian share just 0.1% worth it can take many huge strides in the market.

Future

India is set to overtake China as the world's most populous nation by 2050 and with Indians and NRI’s (non–resident Indian ) growing spending power Indian market is being eyed by many global giants like Wal-Mart, Gap etc and with may brands already here like Louis Vuitton, Gucci, and Valentino indians will surely have a lot of choices to choose from.

Competition

China in the past half a decade has seen a tremendous increase in economy with growing trade and exports. China's products are seen as cheaper compared to Indian apparel and textile products although its opinion of lot of people that Indian products mark a much better quality standard. Its cheap labour and government global policies have seen china rising as a big asian giant. India needs to open up more to global scenerio and pull up their pants if it plans to take a bigger piece of import market share. India should remove all kind of red tapism making it more approachable and sellable in the global market. Aggressive marketing is the name of the game today. Surprisingly china being communist while India being a democracy is not able to liberalise its trade policies.

Source help: Newspaper, magazine articles and India Fashion