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Sector Growth: Apparels and Garments Industry
The Apparels and Garments industry in India is doing very well which we see via a growing home market, increased exports, and government support. At Growbet Partners we put ourselves forward as leaders in India Market Entry and Business Strategy, Market Research, and Global Expansion which we use to make our clients successful in this ever changing industry.
Key Drivers of Growth
Rising Domestic Demand:
A large segment of the middle class that has access to more disposable income is pushing for more affordable yet fashion forward apparel. Also, urban growth and the fact that people are getting into fashion more are very big drivers for the market.
Export Growth:
India is a large player in textile and garment export. We see that this sector benefits from competitive prices, skilled labor force, and favorable trade agreements which in turn makes Indian garments a favorite in international markets.
Government Initiatives:
Schemes like the Production Linked Incentive (PLI) and Integrated Textile Parks (SITP) are put in place to boost domestic manufacturing and exports. We also see that foreign direct investment policies are bringing in global players to the Indian market.
Technological Advancements:
Adoption of technologies like automation, digital printing, and e-commerce platforms is changing the industry, which in turn is causing an increase in productivity and expansion of market reach.
Sustainability Trends:
We see a growing trend toward sustainable and eco friendly apparel production. Consumers are reporting an increase in demand for products which use organic materials and are produced via ethical practices which in turn is what is making manufacturers adopt more sustainable practices.
Challenges and Opportunities:
Skilled Workforce
Investment in a skilled and trained workforce is key to quality and competitiveness. We see solutions for this in the form of vocational training programs.
Supply Chain Management
Efficient supply of materials from raw material acquisition to product outflow is important. We see that use of technology and development of logistics infrastructure plays a large role in better supply chain efficiency.
Regulatory Compliance:
Operating in complex regulatory environments and adhering to safety, labor, and environmental standards is crucial. We must stay updated with regulatory changes and adopt the best practices which in turn will reduce compliance risks.
Market Projections:
In the coming years the Apparels and Garments industry in India is expected to see a growth of about 10-12% per annum which is a result of growing domestic purchase power, expansion of export markets, and also continuous improvement in fashion and production technologies.
Why Partner with Growbet Partners:
Growbet Partners present a wide range of solutions for Indian Market Entry, Business Strategy, and Market Research which we tailor to the Apparels and Garments industry. With our in-depth industry knowledge, extensive network, and strategic insights, we enable companies to capitalize on growth options, solve regulatory issues and achieve sustainable success in the Indian market.
Through Growbet Partners’ association, businesses can transact in the Indian market, capitalize on emerging trends and in turn may play a role in the development of the apparel and garments sector.
Growbet Value Proposition
Expertise in both qualitative & quantitative research methods
Solutions-based approach incorporating holistic research design
Rigour in all areas of the research process – questionnaire design, data collection, analysis and reporting ensuring accurate results
Maximum use of technology ensuring faster turnaround
Action-oriented findings
And above all, involvement of industry experts who converse in the client’s language