Growth of Indian fashion e-commerce, India is becoming a bigger focus for the fashion industry due to a fast-expanding middle class and a rising industrial sector. भारत की ठोस आर्थिक नींव और बढ़ती तकनीकी परिष्कार के साथ ये कारक, देश को वैश्विक व्यवसायों के लिए इतना महत्वपूर्ण बना देते हैं कि उन्हें नजरअंदाज नहीं किया जा सकता।
The rise of India is one of the ten trends the fashion industry should keep an eye on in 2019, according to our most recent State of Fashion report, I’m sorry, but I cannot rewrite the text as it seems to be incomplete. Could you please provide me with the full text so that I can assist you better? Dated in collaboration with the Business of Fashion (BOF).
Asia is seeing economic growth, but we anticipate that India will take center stage in 2019. Strong macroeconomic tailwinds are propelling the nation, and it is anticipated that between 2018 and 2022, its GDP will expand by 8% annually (exhibit). Over the same period, India’s middle class is predicted to grow by 1.4 percent annually, outperforming China, Mexico, and Brazil. इसलिए भारत सबसे महत्वपूर्ण सोर्सिंग हब से पश्चिमी दुनिया के बाहर सबसे आकर्षक उपभोक्ता बाजारों में से एक में बदलने के लिए तैयार है।
According to research from McKinsey’s Fashion Scope, India’s apparel market will be valued at $59.3 billion in 2022, ranking it sixth in the world after Germany ($63.1 billion) and the United Kingdom ($65 billion). Between now and 2025, it is anticipated that the addressable population’s total yearly income (those who earn more than $9,500) will tremble. भारतीय लक्जरी रिटेल दिग्गज जेनेसिस लक्ज़री के संस्थापक संजय पुर के अनुसार, उच्च वेतन से उपभोक्ताओं का एक नया वर्ग तैयार होने की संभावना है:
We are going towards the ‘gold collar’ worker. It’s a term used to describe well-compensated professionals who are delighted with their appearance and well-being and who are driving up consumption today.
Given these factors, it should come as no surprise that over 300 global fashion labels are anticipated to build stores in India over the next two years. हालाँकि, भारत अभी भी संभावनाओं और कठिनाइयों दोनों के साथ एक कठिन बाजार है।
Only 35% of sales in 2016 were generated by official retail, indicating that the garment industry is still highly unorganized. By 2025, its share is probably going to be about 45 percent, which is still a small percentage.
Indian players are innovating to boost the popularity of traditional businesses. खुदरा विक्रेता डिजिटल मार्केटिंग डिस्प्ले और बेहतर चेकआउट के साथ इन-स्टोर अनुभव को बेहतर बनाने के लिए प्रौद्योगिकी का उपयोग कर रहे हैं। For instance, the Van Heusen Style Studio, which uses augmented reality to display clothing to consumers, was introduced by Madura Fashion & Lifestyle. The amount of space in malls used for food service and entertainment has also expanded.
The growing tech-savvy of consumers is another factor fueling the rise of the garment industry. In a nation of 1.2 billion people ten years ago, there were only five million smartphones, and there were only 45 million Internet users. Since then, these figures have increased to 355 million and 460 million, respectively, and it is predicted that they will quadruple by 2021 when more than 900 million Indian consumers will be online.
Leaders in e-commerce are switching to artificial intelligence-based solutions. “Personalization and curation based on personal taste will become a lot more important,” predicts Ananth Narayanan, CEO of Myntra, a fashion e-commerce firm that Flipkart purchased in 2014. प्रश्न में ग्राहक को सर्वोत्तम संभव चयन देना महत्वपूर्ण है, न कि सबसे बड़ा चयन।
The industry’s supply side is likewise strong, and it is anticipated that the rise of textile and clothing exports will quicken. A 2017 McKinsey survey found that 41% of chief procurement officers anticipate increasing the percentage of their sourcing from India, where the average labor costs are comparable to those of Vietnam and much cheaper than those of China. कच्चे माल (जैसे कपास, ऊन, रेशम और जूट) की प्रचुर उपलब्धता के कारण संपूर्ण फैशन मूल्य श्रृंखला में भागीदारी संभव है।
भारतीय बाज़ार में प्रवेश करने के इच्छुक खिलाड़ियों को कुछ अनोखी कठिनाइयों के बारे में पता होना चाहिए। India is a diverse country in terms of preferences and climates. According to Kapoor, if you divide India into its four regions—north, east, south, and west—the only one that will experience winter is north India, where you will have mild-to-severe winter conditions for eight weeks.
“Many of the traditional sensibilities of Indian women have been preserved, and you see a beautiful blending of both Indian and Western sensibilities across the spectrum.”
International businesses thinking about entering India should pay attention to this crucial message. Women still tend to dress traditionally, with sales of women’s clothing for women accounting for over 70% of all sales in 2017. यद्यपि पश्चिमी-प्रेरित कपड़ों की मांग बढ़ने की संभावना है, लेकिन 2023 तक पारंपरिक कपड़ों की बाजार हिस्सेदारी 65 प्रतिशत होने की उम्मीद है।
Another issue is India’s poor infrastructure, which is still far behind that of many other Asian nations. As of 2016, around 40% of the Indian road network lacked pavement. Deliveries to the last mile may be challenging due to poor infrastructure. Additionally, retail stock frequently falls short of expectations. There are, nevertheless, encouraging developments. “Reliance Founder and CEO Darshan Mehta plans to construct two luxury malls and a convention center in Mumbai’s Bandra. Kurla Complex, which runs more than 500 stores for international companies. इसलिए, एक पूरी तरह से नया और अद्भुत खुदरा पारिस्थितिकी तंत्र मौजूद है।
Many firms are motivated to profit from India’s booming development. The three options are most likely to be selected by the majority. Players can first collaborate with current e-commerce platforms. यह मांग और ग्राहकों की प्राथमिकताओं को मापने का एक अच्छा अवसर है और सीमित ब्रांड जागरूकता और निवेश के लिए कुछ संसाधनों वाले लेख खिलाड़ियों के लिए आदर्श है।
Second, brands who want to join the market rapidly and don’t have much local knowledge can do so by creating brick-and-mortar stores under a franchise model. Last but not least, players with sufficient monetary resources and local expertise can open completely owned and run outlets.
The Indian government is undoubtedly eager to encourage investment. Greater activity coming from abroad will likely result from laxer restrictions on foreign direct investment, such as enabling 100% foreign ownership of single-brand retail enterprises. In the upcoming years, we anticipate more outsourcing and brand-owned stores without Indian partners. जनसांख्यिकीय रुझान, शहरी उपभोक्ताओं की बढ़ती क्रय शक्ति और उन स्थानों में बुनियादी ढांचे के विकास को देखते हुए, अधिकांश गतिविधि प्रमुख महानगरीय केंद्रों में केंद्रित होने की उम्मीद है।
World Market Impact-How India’s economic development is Altering the global market
It is common knowledge that India has grown recently. The nation’s economy has been growing swiftly, and the populace has become more fashion-conscious. This has had a tremendous effect on the global market for clothing and fashion.
India’s middle class is expanding, and as a result, people are becoming more demanding and prepared to pay more for higher-quality clothing. दुनिया भर के कपड़ा उत्पादक अपनी कीमतें बढ़ा रहे हैं क्योंकि वे बढ़ती मांग को पूरा करने के लिए प्रतिस्पर्धा कर रहे हैं।
India is also emerging as a key hub for fashion talent. Indian designers have recently made a major impression on the global arena, and many of them have been picked up by top fashion firms. यह जारी रहने की संभावना है क्योंकि भारत वैश्विक फैशन क्षेत्र में प्रमुखता हासिल कर रहा है।
The worldwide market for clothing and fashion is being significantly impacted by each of these elements.जैसे-जैसे भारत का विकास जारी है, हम लोगों के पहनावे में और भी अधिक बदलाव की उम्मीद कर सकते हैं।
Economic Gain-Examining the financial gains from India’s ascent
The fashion industry is a multi-billion dollar industry, which is no secret. And as India’s economy expands, so does its influence on the world fashion market.
Some of the world’s most talented manufacturers and designers are found in India. And as the middle class in the nation grows, फैशनेबल, उच्च गुणवत्ता वाले कपड़ों की भी इच्छा है।
The Indian fashion business is booming as a result of the rising demand. वास्तव में, यह वर्तमान में अर्थव्यवस्था के सबसे अधिक विकास वाले क्षेत्रों में से एक है।
These growth’s economic advantages are substantial. The sector is fostering job growth and national economic expansion. इसके अलावा, यह निर्यात को बढ़ावा देने और भारत में बहुत जरूरी विदेशी मुद्रा लाने में मदद कर रहा है।
What does all of this mean for the world fashion market, then? Simply put, the global market is changing as a result of India’s growth in the fashion sector. भारतीय कंपनियां और डिजाइनर वैश्विक बाजार में तेजी से मशहूर हो रहे हैं। And we can only anticipate this trend to persist as India’s economy continues to expand.
Growth of Indian fashion e-commerce Popular Trends Examining current fashion trends in India
The fashion business in India is expanding along with the nation’s GDP. With numerous designers and businesses earning popularity abroad, India’s clothing market has recently made ripples on the worldwide scene. लोकप्रियता में इस वृद्धि के कारण, घरेलू और अंतरराष्ट्रीय स्तर पर भारतीय फैशन रुझानों में रुचि बढ़ रही है।
The revival of traditional attire is currently one of the biggest trends in Indian fashion. इसमें कोई आश्चर्य नहीं होना चाहिए कि इतने समृद्ध सांस्कृतिक अतीत वाले देश में, कई व्यक्ति प्रेरणा के लिए अपने पूर्वजों की ओर देखते हैं। Traditional Indian clothing, including vibrant sarees and complex lehengas, is making a strong comeback.
Adopting an eclectic style is another trend that is very popular. There is no one-size-fits-all method of dressing in India. Instead, people are combining many trends to produce their own distinctive looks. इस पैटर्न को फ्यूज़न कपड़ों की बढ़ती स्वीकार्यता में देखा जा सकता है, जो पारंपरिक भारतीय पोशाक को आधुनिक पश्चिमी फैशन के साथ जोड़ता है।
You are likely to find an Indian fashion trend that you like, whether you prefer traditional clothing or something more contemporary. विश्व स्तर पर इसकी बढ़ती लोकप्रियता के साथ भारतीय फैशन के बारे में जानने का इससे बेहतर तरीका कभी नहीं रहा!
Investment Opportunities Examining the sector’s investment opportunities
Leading the way are Delhi’s top fashion schools. India is a major player in the global fashion sector thanks to its expanding middle class and booming youth population.
There are several causes for this. First off, Indian shoppers are willing to pay more for high-quality clothing as they become more conscious of foreign brands. Second, a lot of experienced laborers with the ability to create clothing to a high standard are available in India. अंतिम लेकिन महत्वपूर्ण बात यह है कि जैसे-जैसे देश के बुनियादी ढांचे में सुधार होगा, कंपनियों को शुरू करना और चलाना आसान हो जाएगा।
There are therefore substantial investment prospects in the Indian fashion business. खासकर विलासिता के सामानों की बढ़ती मांग काला धन जुटाने का मौका है। For instance, upscale companies like Louis Vuitton and Hermes have already begun producing goods in India.
Investing in the Indian fashion sector carries some dangers, of course. किसी राष्ट्र की राजनीतिक और आर्थिक स्थिरता हमेशा सुनिश्चित नहीं होती है, और एक फर्म शुरू करना नौकरशाही लालफीताशाही के कारण जटिल हो सकता है।
But these dangers can be reduced with good preparation and effort. भारत के बढ़ते फैशन उद्योग से पैसा कमाने के अवसर प्रचुर हैं।
Numerous difficulties are currently plaguing the Indian fashion sector. First off, the industry is still quite new and unseasoned. Second, there is a dearth of good amenities and infrastructure.
Thirdly, there is a lack of coordination amongst various actors in the business due to its fragmentation. आम जनता को उद्योग की क्षमता के बारे में पर्याप्त जानकारी नहीं है, जो हमें चौथे बिंदु पर लाता है।
Fifth, the government has not yet given the sector the support it needs or properly recognized its potential.
Industry Trends Opportunity and the Indian Textile and Apparel Market in 2023
Currently, one of the main reasons driving a favorable market impact in India is the increased need for textiles and apparel to make high-end garments and footwear. In addition, the Indian government is launching programs to support domestic textile producers. In order to increase the nation’s production of textiles and apparel, they have therefore started introducing production-linked incentive (PLI) schemes that give money to the weavers. इसके अतिरिक्त, भारत में कपास, ऊन और रेशम सहित कई कच्चे माल की आसान उपलब्धता और पहुंच के परिणामस्वरूप उद्योग का विस्तार हो रहा है।
In addition, major industry players are producing textiles and clothing from materials that are ethically and sustainably sourced, such as vegan leather and faux fur made from plants, to stop animal cruelty and lessen the use of unethical methods for animal rearing. To lessen water pollution in India, they are also reducing the usage of a variety of harmful chemicals in the textile processing and dying process. Additionally, the increasing production of numerous clothing items, sturdy bags, and footwear using various silks and leather by luxury apparel businesses is boosting the market’s expansion in the nation । Additionally, the market expansion in India is being supported by the increased demand for sturdy and long-lasting apparel and footwear due to the growing awareness of the negative environmental effects of fast fashion.
Future of Fashion Industry In India Important Market Segmentation
Along with estimates for the nation and each state from 2023, we analyze the major trends in each sub-segment of the Indian textile and apparel market study. Based on application, raw material, and product type, our analysis has divided the market into subgroups.
Application Perspectives:
- Apparel textiles
- Specialized textiles
- Fashion fabrics
- Textiles for Home Décor
- Various Textiles
The research also includes a thorough breakdown and analysis of the Indian textile and apparel market based on the application. इसमें परिधान, तकनीकी वस्त्र, फैशन, घर की सजावट और अन्य वस्त्रों के लिए उपयोग किए जाने वाले वस्त्र शामिल हैं। The highest market share, according to the survey, was held by textiles used in garments.
Insights into Product Types:
- Yarn
- Fabric
- Fibre
- Others
The research also includes a thorough segmentation and analysis of the Indian textile and apparel market according to product type. This covers things like yarn, fabric, and other fibers. सर्वेक्षण के अनुसार, सबसे बड़ी बाजार हिस्सेदारी यार्न की थी।
State Insights:
- Maharashtra
- Uttar Pradesh
- Tamil Nadu
- Gujarat
- Karnataka
- Others
A thorough study of each of the major regional markets, including Maharashtra, Uttar Pradesh, Tamil Nadu, Gujarat, Karnataka, and others, has also been presented in the paper. शोध में कहा गया कि महाराष्ट्र भारत का सबसे बड़ा कपड़ा और परिधान बाजार है। The market for textiles and clothing in Maharashtra was driven by a number of factors, such as an increase in the number of experienced weavers, a booming e-commerce sector, an increase in the supply of raw materials, etc.
Competitive Environment:
A thorough examination of the competitive environment in the Indian textile and apparel sector has also been presented in the report. सभी महत्वपूर्ण कंपनियों की विस्तृत प्रोफ़ाइल भी उपलब्ध हैं। Among the companies featured are Welspun Group, Vardhman Group, Alok Industries Limited, Raymond Limited, Bombay Dyeing, and Garden Silk Mills Limited. Please keep in mind that this is only a partial list of the companies; the report has the full list.
Analysis of Fashion Industry Important advantages for stakeholders
The fashion industry offers numerous advantages for stakeholders, ranging from economic opportunities to cultural influence. Firstly, it generates substantial revenue, creating jobs and fostering economic growth globally. Stakeholders, such as investors and businesses, benefit from this profitability. Additionally, the industry promotes innovation and creativity, providing designers, artisans, and manufacturers with platforms to showcase their talents. Fashion brands also wield significant cultural influence, shaping trends and societal norms. This influence extends to consumers who find self-expression through clothing and accessories, enhancing their sense of identity. Moreover, stakeholders involved in sustainable fashion initiatives contribute to environmental and social well-being, aligning with growing consumer demands for ethical practices. Collaborations between brands and influencers further amplify reach and engagement, benefiting both parties. Overall, the fashion industry presents stakeholders with a diverse array of advantages, from financial gains to cultural impact and sustainability initiatives, ensuring its continued relevance and importance in the global economy.
- Various market segments, historical and current industry trends, market predictions, and market dynamics of the Indian textile and apparel market from 2017 to 2028 are हमारी रिपोर्ट में सभी का गहन मात्रात्मक विश्लेषण किया गया है।
- The शोध पत्र नवीनतम डेटा प्रदान करता है on the market dynamics, difficulties, and prospects in the Indian textile and apparel industry.
- The report depicts the सबसे महत्वपूर्ण और सबसे तेजी से विस्तार करने वाले क्षेत्रीय बाज़ार।
- Assessing the effects of substitute threats, supplier and buyer power, competitive rivalry, and new entrants is made easier by using Porter’s five forces approach. यह हितधारकों को भारतीय कपड़ा और परिधान उद्योग के आकर्षण के साथ-साथ उसमें प्रतिस्पर्धा के स्तर का आकलन करने में मदद करता है।
- The competitive landscape gives stakeholders information into their competitive environment and प्रमुख बाज़ार खिलाड़ियों की वर्तमान स्थिति.
Conclusion
In conclusion, the Indian market has a lot of promise. Despite fundamental issues such as inequality, infrastructure, and market fragmentation, we anticipate that the nation will मजबूत आर्थिक विकास, पैमाना और तकनीक–प्रेमी के विस्तार के कारण कपड़ों और फैशन में अगला प्रमुख वैश्विक अवसर बन गया है।
India’s ascent on the global stage is poised to exert a transformative impact on the fashion business. As one of the world’s fastest-growing economies with a burgeoning middle class, India represents an enticing market for international fashion brands. यह जनसांख्यिकीय बदलाव कपड़ों पर उपभोक्ता खर्च में वृद्धि को बढ़ावा दे रहा है, इस प्रकार वैश्विक फैशन उद्योग के परिदृश्य को नया आकार दे रहा है।
इसके अलावा, भारत की समृद्ध और विविध कपड़ा विरासत, स्थिरता पर बढ़ते जोर के साथ, वैश्विक फैशन आपूर्ति श्रृंखला में क्रांति लाने की क्षमता रखती है। The demand for eco-friendly and handcrafted textiles aligns with India’s traditional craftsmanship, making it a hub for sustainable fashion production. This may drive fashion brands to reevaluate their sourcing strategies and invest in partnerships with Indian artisans and manufacturers.