Home / Knowledge / News / Apparel/Garments / Indian apparel sector to mark positive growth in 2012-16
Indian apparel sector to mark positive growth in 2012-16
09
May '13
Indian apparel industry is expecting positive growth in the coming years mainly due to the removal of excise duty on branded garments and madeups along with expected revival of overall economy.
 
A report released by Care Research, a leading research and analysis provider in India, states that domestic garment industry is expected to grow at around eight percent year-on-year from US$ 37.35 billion in fiscal year 2012-13 to US$ 50.62 billion in fiscal year 2015-16.
 
The growth in Indian clothing sector would be primarily driven by the upsurge in the Indian economy coupled with the rising per capita disposable income, says the report. 
 
According to the research report, factors like the changing fashion trends, growing consumer class, rising urbanization, increasing retail penetration and the increasing share of the designer wear together have led to the growth in the apparel industry of India.
 
Agreeing with the research report, the president of CMAI, Mr. Rahul Mehta told fibre2fashion, “Though, we believe that the growth in the domestic clothing sector is going to be difficult and not automatic, we feel that there is a possibility of growth up to US$ 100-120 billion by 2020.”
 
“The growth in Indian garment industry could be mainly because the markets are improving, the excise duty on branded garments and madeups has been removed so the prices of apparels are likely to come down and overall economic sentiments have also gone up,” he adds.
 
The report of Care Research also attributes the growth in domestic apparel sector to resumption of zero excise duty on readymade garments and madeups, expected revival in the overall economy and faster clearance of investment proposal of foreign retail brands.
 
Indian apparel industry grew at an average of 10 percent from US$ 23.23 billion in fiscal year 2007 to US$ 37.35 billion in fiscal year 2012. 
 

Fibre2fashion News Desk - India


Must ReadView All

India’s WPI inflation for textiles up 0.3% in Nov 2017

Textiles | On 14th Dec 2017

India’s WPI inflation for textiles up 0.3% in Nov 2017

India’s annual rate of inflation, based on monthly wholesale price...

Cambodia’s economic growth to remain strong in 2017 & 2018

Apparel/Garments | On 14th Dec 2017

Cambodia’s economic growth to remain strong in 2017 & 2018

Cambodia’s economy is expected to grow at 6.9 per cent and 6.8 per...

2 garment factories to be set up in Jordan’s Arjan, Souf

Apparel/Garments | On 14th Dec 2017

2 garment factories to be set up in Jordan’s Arjan, Souf

Jordanian Prime Minister Hani Mulki recently laid the foundation...

Interviews View All

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search