Indian women’s fashion industry faces “unfair” competition from overseas brands, a leading Indian apparel manufacturer has said.
Key points: Indian women are expected to spend more on clothes, including in fashion brands, than men’sThe Indian government has pledged to increase spending on clothing by 50% over next year to meet the needs of a rapidly growing populationThe industry’s business is in dire straits after the collapse of the garment industry in the early 2000sMany of the country’s leading brands have stopped manufacturing garments in India, citing an increasing need for cheaper and more efficient materials, such as polyester, nylon and polyurethane, said Vibhu Bhaskar, general manager of the Indian-based Indian Threads Trading Co.
India’s clothing sector was once the countrys biggest and most profitable industry.
But the industry has seen its business take a dramatic turn since the collapse in the garment sector in the mid-2000s.
The collapse in exports and the introduction of cheaper materials have meant that Indian clothing manufacturers have struggled to keep up with the demands of an expanding population and a growing middle class.
Many brands have moved to foreign markets to avoid a collapse in their business.
Many of these brands have not yet recovered from the collapse, as their businesses have been hit hard by the loss of their manufacturing facilities.
India is one of the fastest-growing apparel markets in the world, with growth rates exceeding 10% in some areas.
In 2016, it overtook China to become the worlds largest apparel market.