India’s garments industry has achieved worldwide prominence as a source of clothing that combines the latest global fashion trends with exquisite designs, which are resplendent of influences taken from the local culture.
As the sixth-largest garments exporter in the world, the country benefits from a number of competitive advantages. Foremost of these is an expansive pool of suppliers, which number more than 18,000. These companies are located in most major cities.
Another key benefit of sourcing from India is the stable supply of a variety of fabrics. A leading production hub for textiles, the country is also home to garment manufacturers that have easy access to a range of raw materials.
Most exporters ship the bulk of their output abroad. The major overseas markets are the US and the EU. Combined, both markets account for half of total export revenue.
Casual wear prevails as the most important product line. The sector makes up more than two-thirds of exports from suppliers featured in this report. Formal wear and children’s garments are secondary lines. Sports apparel, undergarments and sleepwear are other product categories offered.
Raw materials are sourced from several locations. These include Delhi and the states of Tamil Nadu, Gujarat, Maharashtra, Haryana, MadhyaPradesh, West Bengal, Kerala and Andhra Pradesh.
Sales have been sluggish owing primarily to the effects of the global economic crisis. As such, the industry’s growth has been halved compared with the previous year.
The following are some of the key trends we see in India’s garments industry:
• Despite slow demand from traditional markets of the US and Europe, suppliers anticipate export turnover to grow over the next 12 months. Most of them anticipate revenue to surge by as much as 20 percent, as they take a number of steps to encourage sales.
• Many suppliers will focus on the Asia-Pacific region to boost overseas shipments, while others increase sales in the domestic market.
• Manufacturers will emphasize design diversity in an effort to differentiate their products from competitors. Some will release models in functional or blended fabrics, and others will focus on improving fit and performance.
• Most makers will be keeping prices stable over the coming six months. Manufacturers planning to push up quotes will do so by a minimal margin.
The above is extracted from the Executive Summary of China Sourcing Report: India - Garments
To learn more about this report, visit: http://www.chinasourcingreports.com/csr/india-garments
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