Indian Apparel Industry Sees Divergent Growth Trends: CMAI's Mehta

Rahul Mehta, Chief Mentor of the Clothing Manufacturers Association of India (CMAI), highlights a growing divide in the Indian apparel industry. Larger, organized players are experiencing significant growth, while smaller manufacturers face challenges. Leading fashion companies like Trent, ABFRL, Page Industries, and Arvind Fashions reported sales increases of 48%, 13%, 6%, and 7% respectively from January to September 2024. The success of affordable fashion formats like Zudio has prompted similar launches from major retailers. However, smaller manufacturers struggle with rising raw material costs, inflation, and competition from duty-free imports. Mehta emphasizes the need for innovation and sustainability to remain competitive in the evolving market landscape.

 

Source: BusinessWorld