Indian Fashion industry and socio- economic accent

1. IMPACT ON INDIAN FASHION
INDUSTRY BY
SOCIO-ECONOMIC ACCENT
Nihar Ranjan Roy
M.Sc. In Fashion Management
Semester-3

2. Abstract
The research on the “Impact on Indian
fashion industry by socio-economic
accent”, is an overview, reflecting on a
rapidly growing middle class and an
increasingly powerful manufacturing
sector. The growth of upwardly mobile
middle class is generating a tremendous
stress on the mass market production of
every brand, making India as the focal
point in all over South-east Asia.

3. Fashion Industry
Fashion industry, multibillion-dollar
global enterprise devoted to the business
of making and selling clothes.
Although the fashion industry developed
first in Europe and America, today it is a
highly globalized industry, with clothing
often designed in one country,
manufactured in another, and sold in a
third.

4. Evolution of Fashion
Industry in India

5. • Indian fashion scenario is known for
its cultural heritage, elegance, and
colorfulness.
• It brings out the subtlety and beauty
which has sustained through
innumerable decades.
• For not only is it comfortable,
sophisticated and aesthetically
beautiful but it has also evolved over
time.

6. • From ethnic to western, salwar
kameez to high-street
fashion; fashion industry in India
has gone through a milieu of
transformations.
• The fashion industry in India has
been advantaged by thousands of
years of rich tradition behind it
and the knowledge as the vogue of
sewn garments have existed in
India ever since ancient history.

7. • The textile industry in India is among the
largest segment of India’s capital goods
sector.
• India is the second largest exporter of
textiles in the world. Furthermore,
favorable demographics and rising
income levels are believed to be the key
growth drivers of the Indian textile and
apparel sector in the coming years.

8. • Indian Fashion industry is fastly growing industry and
has great potential to make the mark on the world stage.
It is growing at rapid pace with international
developments.
• It covers a whole range of clothing from ornate cloths
designed for wedding ceremonies to pret line, sports and
casual wear.
• It even includes the traditional Indian techniques of
embroidery like, Chikhan, Crewel and Zardosi. These
traditional weaves and fabrics are used by Indian
designers to create Indo-western clothing in a fusion of
the best of east and west.

9. Economic advantage
• India’s middle class is
forecasted to expand by 1.4
percent a year over a period
next five years, outpacing
China, Mexico, and Brazil.
• As a result, India will evolve
from an important sourcing
hub into one of the most
attractive consumer markets
outside the Western world.
India’s apparel market will be
worth $59.3 billion in 2022.
• Because the aggregate income
of the addressable middleclass
population is expected to triple
between now and 2025.

10. Investment
strategy
• Indian companies are innovating,
retailers are leveraging technology to
enhance the in-store experience.
• The growth in the apparel sector is
also being driven by increasing tech
savviness among consumers.
• E-commerce leaders are moving to
solutions based on artificial
intelligence. Personalization and
curation based on personal taste will
become a lot more important.

11. Understanding the
Insights of Fashion
Industry
Many brands are determined to take advantage
of India’s blossoming growth. The majority are
likely to choose one of three routes.
• First, players can partner with existing e-
commerce platforms. This is most suitable for
players with low brand awareness and
relatively little capital to invest.
• Second, brands that have little local
knowledge and are looking to enter the market
quickly can do so with a franchise model,
developing brick-and-mortar retail spaces.
• And finally, players that have significant local
knowledge and capital resources can create
fully owned and operated stores.

12. • Most activity is likely to be focused on major urban centres, reflecting demographic
trends, the rising spending power of urban consumers, and improving infrastructure
in those areas.
• Thus, Indian market offers great promise. Despite structural challenges that include
inequality, infrastructure, and market fragmentation, it is expected the strong
economic growth, scale, and rising tech savviness will combine to make the country
the next big global opportunity in fashion and apparel.

13. Conclusion
In the upcoming years there will be a serious
socio-economic changes in India, which will
force the new generation Indians to change
their attitude, motivation, belief, opinion and
thus reflect strongly on their expressions
through fashion trends and the effect of
globalization definitely assist the national as
well as international fashion and lifestyle
companies to gain access in the minds of the
GenX Indians.

14. References
www.mckinsey.com
www.wgsn.com
www.fashionunited.in
www.forbesindia.com
www.gurdian.com

15. Thank You