INDIA CANVAS
Indian womenswear market to beat
menswear by 2025
According to a report titled,
‘Women’s Apparel Landscape in
India’ by Avendus Capital, the
women’s apparel market will
overtake menswear by the year
2025. The report claims that
Women’s apparel which accounted
for Rs. One lakh crore of the Rs.
2.6 lakh crore apparel market in
2015 is growing at 11 per cent
CAGR, while the branded segment
is noticing a 20 per cent growth.
It also highlights understanding
of women’s shopping behaviour, a
significant shift towards branded
apparel and the various distribution
channels available in the market.
Women’s branded apparel market
is expected to grow at around 20
increase in number of working
women and spending power, ease
of retail trade and the shift to
ready-to-wear and aspiration-
based shopping.
per cent, raising its share of the
total market to over 40 per cent.
The report attributed the growth to
factors such as the entry of branded
players including foreign labels,
“Impulsive buying, online and digital
shopping, availability of a plethora
of niche brands and the influence
of social media are also changing
the women’s apparel landscape,”
said Abha Agarwal, Director –
Investment Banking, Avendus
Capital, adding, “I believe ease
of payment, the growing concept
of visual merchandising and
seamless shopping and delivery
experience will make the women’s
apparel market more attractive
going forward.”
India's textile hub Tirupur to become
‘smart city'
Good news came in for India’s
apparel hub Tirupur (Tamil
Nadu) when it found itself on the
list of 30 new cities that are being
added to the Centre’s ‘Smart
Cities Mission’, as announced
by M. Venkaiah Naidu, Union
Minister of Urban Development
and Housing & Urban Poverty
Alleviation. Besides Tirupur,
Tirunelveli, Thootukkudi and
Tiruchirappalli from Tamil
Nadu have also been placed
in the list. Tirupur Exporters
Association (TEA) has expressed
happiness over the Government’s
move to include the city in the
list of Smart Cities Mission.
Commenting on the move, TEA
President Raja M Shanmugham
said, “We would like to thank
minister for selecting Tirupur
under Smart Cities Mission
which will go a long way in the
development of infrastructure
in this happening city. We are
certain that under the Mission,
all the ongoing issues will
be addressed for the city’s
development.”
The inclusion will improve
the infrastructure in Tirupur
which is targeting to achieve
Rs. One lakh crore from knitwear
business by the year 2020.
Old rates of ROSL
to be continued for
nex t three months
The Government has cleared
ROSL (Rebate Of State Levies)
for the next 3 months (till 30th
September 2017) at the old
rates. This becomes effective
after Apparel Export Promotion
Council (AEPC)’s request for
restoration of the previous rate of
ROSL at 3.9 per cent in reaction
to the announcement made by
the Ministry of Textiles, through
a notification issued on 27th
June 2017, which had notified the
interim ROSL scheme at 0.39%
and through another notification
dated 30th June 2017, had made
it compulsory for the exporters to
give declarations and certificates
in a prescribed format at the time
of export for claiming the duty
drawback. AEPC had claimed this
sharp reduction of 90% as ‘not
being acceptable’. Ashok Rajani,
Chairman, AEPC shared, “We are
happy with this decision as our
demand has been accepted. This
will be a good support to Indian
apparel exporters.”
15-18% growth in
garment export
next year
India is likely to note a 15-18
per cent growth in garment export
to touch US $ 20 billion during
the current fiscal. The increase
from US $ 17 billion in FY 2017
is expected mostly owing to the
improved market conditions in the
US and other markets. However,
India failed to grab the desired
export target for the year 2016-
17. “The US market is doing
reasonably well and we are also
looking at good exports potential to
South America, European, Middle
East and Japanese markets this
year,” stated President of Clothing
Manufacturers Association of India
President, Rahul Mehta.
www.apparelresources.com | JULY 16-31, 2017 | Apparel Online India
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