India has always had a strong presence in the global fashion market, with its traditional textiles and garments having been popular among international buyers for centuries. However, in recent years, India’s fashion export market has begun to grow rapidly, with the country now being home to some of the world’s most sought-after designers. In this article, we take a look at India’s stand in the global fashion export market, and how its rising popularity is impacting the country’s economy.
India’s fashion industry
India has long been known for its vibrant and colorful textiles, and more recently, its fashion industry has been making waves on the international stage. India’s fashion export market is growing rapidly, and the country is now a major player in the global fashion industry.
India offers a vast array of textiles and fabrics, including traditional hand-woven fabrics and modern synthetic fabrics. Indian designers are known for their creativity and innovation, and they are increasingly being recognized. The fashion export market in India is currently worth around US$40 billion, and it is expected to grow to US$100 billion by 2025.
There are a number of factors driving India’s growth in the fashion export market. Firstly, the country has a large population of young people who are interested in fashion and are willing to spend money on stylish clothing. Secondly, India’s economic growth means that more people have disposable income to spend on clothing. And finally, the country’s burgeoning middle class is becoming increasingly aware of global trends and is eager to dress accordingly. These factors have helped increase domestic orders for brands but has also made them realize that there is a huge potential for them to export.
So far, India’s fashion export market has been dominated by low-cost mass-produced clothing. However, there is a growing demand for high-quality designer labels.
The rise of India’s fashion export market
Since the early 2000s, India’s fashion export market has been on the rise. In 2018, the country’s exports were valued at $19.7 billion, making it the fifth largest exporter of clothing in the world. This growth is largely due to the increasing demand for Indian-made garments from developed countries.
There are several reasons for this increased demand. Firstly, Indian garments are generally much cheaper than those made in developed countries. This is due to lower labor costs and a more relaxed regulatory environment. Secondly, Indian manufacturers have become increasingly adept at producing high-quality garments that meet international standards.
As a result of these factors, India has been able to capture a significant share of the global fashion export market. In fact, in 2018, Indian exports accounted for 3.9% of all clothing exports globally. This is up from just 1.7% in 2003.
Looking forward, India is well positioned to continue growing its share of the global fashion export market. With its large population and rapidly growing economy, the country has a huge pool of potential customers. Additionally, continued improvements in quality and productivity will help Indian manufacturers compete against their developed country counterparts.
India’s stand in the global fashion export market
India is the world’s second-largest exporter of clothing and textiles, with a share of around 6% in the global export market. In terms of volume, India exports around US$40 billion worth of clothing and textiles every year. India’s main competitors in the global fashion export market are China, Bangladesh, and Vietnam.
Despite being a relatively small player in the global fashion export market, India has some key advantages that have helped it to become a major player in this sector. India has a large population of around 1.3 billion people, which provides a large domestic market for clothing and textile manufacturers. Additionally, India has a large pool of skilled labor that is able to produce high-quality products at relatively low costs.
Due to these advantages, India has been able to grow its share of the global fashion export market steadily over the past few years. In 2013, India’s share of the global fashion export market was 4.4%, which grew to 5.6% by 2018. And, according to industry experts, India is on track to become one of the top three global exporters of clothing and textiles within the next few years.
The future of India’s fashion export market
India has long been a powerhouse in the global fashion industry, and its export market is only getting stronger. In fact, India’s share of the global fashion market is expected to grow from 2.5% in 2017 to 5% by 2025. This growth is being driven by a number of factors, including the country’s large population, growing middle class, and burgeoning youth market. Additionally, India’s vast array of traditional textile and garment-making techniques are increasingly in demand from international brands and retailers.
Looking ahead, India’s position as a leading fashion export destination looks very promising. The country has all the key ingredients for continued success in the global fashion market, including a large and growing market, a rich tradition of textile and garment production, and a rapidly expanding base of young consumers.
The increasing number of e-commerce wholesale exporters in India are also showcasing Indian-made products in the best way possible. With just a click away, buyers from the international markets are able to access the Made in India clothes and place an order. One such e-commerce platform that is helping increase cross-border trade in the home & fashion industry is Tradyl.com.
Conclusion
In conclusion, India’s stand in the fashion export market is very strong. The country has a rich history of textile and clothing production, and its products are highly sought after by buyers all over the world. India’s vast population also means that there is an abundance of skilled labor available to produce high-quality garments at competitive prices. As a result, India is well-positioned to continue growing its share of the global fashion export market in the years to come.
