Intex South Asia

Name: Intex South Asia
Start: 2022-12-08T08:00:00+05:30
End: 2022-12-10T18:00:00+05:30
Location: Pragati Maidan, New Delhi, Delhi, India

Thu, December 8, 2022 - Sat, December 10, 2022 (8:00 am - 6:00 pm)Asia/Kolkata

Pragati Maidan
Pragati Maidan, New Delhi, Delhi, India

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Why India

INDIA’S MARKET OPPORTUNITIES IN TEXTILES & FASHION

India is the second largest manufacturer of textiles in the world which is estimated to be US$ 122 billion.
India is one of the most attractive consumer markets for apparel outside the West with Fashion Retail worth ~US$ 54 billion and expected to reach US$ 118 billion by 2028.
India accounts for almost 7% of global home textiles trade and also is one of the top suppliers for the world’s biggest home textile consuming market, USA.
The Indian domestic fashion & apparel brands market is expected to reach US$ 220 bn by 2025 & is witnessing an increase in demand for high-fashion and high value apparels amongst others.
India has the largest Gen-Y population in the world with higher disposable income for discretionary spending on fashion & lifestyle items.

THE FUTURE OF FASHION APPAREL INDUSTRY IN INDIA

The e-commerce market in India is expected to hit US$ 200 billion by 2026, according to investment bank Morgan Stanley and the fashion segment would be one of the biggest contributors.
The US$ 54 billion Indian fashion retail is estimated to reach US$ 118 billion by 2028.
By 2023, the middle class consumers which will form 43% of total targetable customer base will contribute about 55-60% share of total apparel market size.
The Indian middle class population is expected to grow at 19.4% per year, a swifter rate than in China, Brazil, and Mexico.
India is set to move from being an increasingly important sourcing hub to being one of the most attractive consumer markets outside the Western world.

Growth Opportunities in the Indian Market

Growing Exports:India’s apparel exports registered 30% growth in FY22 to $16 billion compared to $12.3 in FY21. Exports of cotton yarn, fabrics, made-ups and handloom products rose by 55.11% to $15.244 billion in FY22. India’s cotton yarn export profits in 2021 were $4.69 billion, or a 79.64% YoY increase. India also accounts for 10.2% of the total global exports of raw cotton valued at $9.8 billion in FY22. As the key-player in the regional economy, India is the gateway to South Asian markets, ensuring that the combined strengths of India and South Asia come together to create the second biggest textile and apparel industry in the world.
Lucrative Domestic Market:India’s domestic market is fuelled by the largest youth population in the world of 808 million youth below the age of 35, making India the 6th-largest fashion marketplace in the world. Apparel has 73% share of total T&A market as the young population adopts aspiration-based fast fashion instead of need-based clothing. India’s domestic textile & apparel market will reach $220 billion by 2025 from $100 billion in FY19. The booming $54 billion Indian fashion retail is estimated to reach $118 billion by 2028 while the $6.35 billion active wear market (2018) is estimated to reach $13.58 billion by 2024. The athleisure market is worth $7.3 billion and growing at 18-20% annually. The overall female innerwear market will touch $11-12 billion by 2025.
Booming Consumption:The Indian economy is driven by consumption, rising income and a shift to digital. India’s consumption will grow by $1.8 trillion by 2030 with a major rise in high-income households in the next few years. Household disposable income is forecast to grow by 9.5% from 2022-26 resulting in greater willingness to spend. Urbanization will also grow significantly, creating a wealthier consumer base leading to India having the third-largest number of high-income households globally, and up to 55% of the population belonging to the consuming class after the US and China by 2030.
Prospering Retail & e-tail Industry: India’s retail industry is expected to grow 9% over 2019-2030, from $779 billion (2019) to $1.4 trillion (2026) and over $1.8 trillion by 2030. Organized retail grew 50% from 2012-20, valued at 12% of total retail market. Major retail categories are apparel & accessories at 18% and home and living at 6%. India’s e-retail market is expected to grow to $120-140 billion by FY26, at 25-30% annually over the next 5 years. India has the 3rd highest number of e-retail shoppers behind China and the US.
Buoyant E-Commerce:Increased penetration of smart phones supported by high-speed internet has brought fashion to tier II, III & tier IV towns amidst growing urbanization. Overall e-commerce sales are expected to reach $130 billion by 2026 from $29 billion in 2019. India’s online fashion industry grew by 51% in 2021, supported by 118% order volume growth from tier-II & III cities. Apparel & lifestyle sectors are 25% of the $46 billion e-commerce market. Private labels are booming and expected to corner 50% of retail with online private labels estimated to grow 1.3-1.6 times faster during 2019-22. In the e-commerce fashion market, Women’s wear held 50% share while kids wear saw 200% order volume growth in FY21. Menswear segment has 33% market share in FY2021.