Home / Knowledge / News / Apparel/Garments / Textile & apparel sector to grow by 9% - Technopak
Textile & apparel sector to grow by 9% - Technopak
26
Oct '09
Technopak Advisors, one of India's leading management consulting firms hosted its first Annual Leadership Forum for the Textiles and Apparel industry in Mumbai on October 6, 2009.

The by-invitation-only forum provided the platform for 150 industry stalwarts such as Mr. J Suresh, CEO, Arvind Brands; Mr. Arvind Singhal, Chairman, Technopak Advisors; Mr. Arun Sirdeshmukh, CEO, Reliance Trends, Mr. Iqbal Ibrahim, Managing Director, Al-Karam (Pakistan) and Ms. Deepika Rana, Executive Vice President, Li & Fung, (India), among others to debate and offer industry perspectives on the state of the regulatory framework, growth prospects and opportunities for both the domestic market and international trade; as well as the key challenges faced by the industry.

The key conclusions arrived at from the key note and panel discussions were:

•India's current share of the apparel market is 3%. This is far below the initial projection of 15% by 2015 when the quotas were first phased out in 2005. The reason for this lost opportunity is that in spite of having the second largest textile complex after China, there is segmentation within the industry. Cotton, yarn, and fabric-manufacturers exist as lobbies working at cross-purposes rather than as one industry.
•Rural, mass and ethnic wear are huge opportunities that are popularly overlooked in favor of urban, premium and western wear.
•Indian domestic apparel market is currently pegged at between 12-15 thousand crores, with several high potential demographics still untapped such as teens, extra large sizes and children, among others.
•Currently, 40% of international trade is between the European countries. Much of this presents an opportunity for Asia.
•The textile and apparel industry is facing a liquidity crunch therefore investments are low
•4-5 big retailers consume 50-60% of the industries production capacity with imports having become weak.
•Mass merchants such as Reliance, Aditya Birla, Walmart, Metro, Kafu expanding their business would be an opportunity for producers and a threat for brand owners.
•The industry is faced by economic challenges that threaten its growth as compared to competing countries such as Egypt and China. While low cost of labour is an advantage, power and water is expensive and scarce; interest rates and capital subsidy are very high.
•Technical textiles provide a huge opportunity as there are more than 6000 different technical textiles. However, to be able to succeed in this area in the western markets requires performance guarantees that the infant technical textile sector in India would find difficult to offer. The other barrier in capitalizing on this opportunity is lack of access to intellectual property. So while it may be possible to acquire the machinery, the technology itself is restricted. Currently 500-1000 crores are invested in technical textiles.


Technopak also released a white paper on the Indian textile and apparel industry. Some highlights from the white paper are:

Must ReadView All

Textiles | On 28th Apr 2017

Fix 5% GST rate for textile goods: Textile bodies

Uniform levy of 5 per cent Goods and Services Tax (GST) on all...

Textiles | On 28th Apr 2017

India lifts CVD imposed on Nepali Jute goods

The countervailing duty (CVD) that was imposed on Nepali jute...

Courtesy: Williamsburg Garment Company

Fashion | On 28th Apr 2017

'We have grown by staying small & maximising efforts'

The easiest way to go out of business is to be too big or expand too...

Interviews View All

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Ashok Desai
Bombay Textile Research Association

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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



X