Designers to add Rs2000 cr biz to fashion industry by 2012
13 Feb '07
2 min read
The share of budding and established fashion designers to fashion industry is likely to go around Rs. 2000 crores by 2012 from current level of approximately Rs. 200 crores in view of expansion that is being effected by large number of budding fashion designers to tap potential of different regions in which fashion market is undergoing large scale diversification with its consumers developing a yearning for variety of local as well as overseas fashion products, according to the Associated Chambers of Commerce and Industry (ASSOCHAM).
The turnover of overall fashion industry both in retail and non- retail segment as of now is estimated between Rs. 34,000 to Rs.35,000 crore in which the contribution of apparel segment alone has already touched Rs. 16,000 crore, estimates the ASSOCHAM.
In a paper brought out by ASSOCHAM on Potential for Fashion Industry, it has been pointed out that in the current Rs. 200 crore size of fashion wears, the contribution of budding designers is just about Rs. 20 crores which in percentage terms works out to be 10%. The remaining contribution comes from the established designers.
The paper reveals that in future the number of budding designers will increase manifolds as a consequence of flourishing fashion institutes all across the country which are equipped with all modern skills and technologies to provide an impart potential designers with sufficient training which will naturally lead them to excel in the field and thereby substantially hike their market share.
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