Apparel 2016 – Reflections on the Year Gone by

As the curtains come down on 2016, Bindu Gopal Rao speaks to the industry experts to reflect on how the apparel industry fared in this year, what worked and what did not.

- Bindu Gopal Rao

The apparel industry has definitely seen a positive performance and significant growth in 2016. The Indian textile and market size stands close to US$ 67 billion in the year 2016. Increased incomes, high growth of GDP leading to rapid urbanisation, growth of organised retail with the entry of a large number of domestic and international players leading to greater exposure of the Indian consumer and increased competition in this sector are auguring well for the apparel industry.

The apparel industry in India is a perfect example of ‘order in chaos’ where everyone thrives—from the unorganised small and domestic players to international chains. Others, however, feel that 2016 has not been the best year in the apparel industry as there has been a lot of consolidation going on.

“There was a marginal decline even last year, and while this year is seemingly on-par, it remains to be seen if any of the new government schemes towards textiles and apparels help to revive the same,” says Pramod Bafna, Creative Director, President Group, Warp & Weft, the Fabric Gallery. “The apparel industry has been badly hit due to

seasonality,” adds Mr Swappan Dutta, President, Retail, Monte Carlo Fashions Pvt. Ltd. “The bulk of apparel trade sales take place between October and February, as all festivals, weddings and other occasions that take place during this period and also winter wear sale is at a peak in these months. Unfortunately, last year, winters were delayed and in most of the regions winters were mild which resulted in poor buying sentiments.”

ECONOMIC INDICATORS