"Business opportunities are like buses, there's always another one coming." - Richard Branson
The vibrant domestic market in India is throwing up unprecedented opportunities in the garment sector specially for the upcoming entrepreneurs. Some of the clothing manufacturers in India, who have been supplying goods to the reputed global garment and accessory retailers, are now toying with idea of launching their own brands. Few of the garment accessories suppliers sums up the general mood as “ The investors are willing, the policies are favourable and by all angels this seems like an idea whose time as come ! ”
Recent news report confirms the fact that the organised garment & accessories sector currently valued at around Rs 320 billion, is projected to increase upto Rs 900 billion (approx.) in just about next five years.
Garment accessories exporters are willing to take this risk though not at the cost of diverting their attention from exports."We will continue to export the same volume which we are doing right now, though wouldn't mind venturing into launching our brands through some foreign partnerships or tie-ups" says one of the garment accessories manufacturer.
Industry insider confirms that amongst the Indian apparel manufacturers, those who are firming up plans to launch new brands or expand existing brands include Mandhana Industries, Orient Craft, SP Apparels and the South India based Royal Classic Group.
These companies hope to attract overseas investors or forge a tie-up with global brands, in accordance with current government of India policy, wherein, 51 percent FDI is permitted in single-brand retail.
Garment accessories, including cloth, zippers, buttons, labels account for around 30% of the total garment sector. Garment accessories suppliers are an important cog in the wheel of the entire garment business chain. Any change in the supply demand cycle will certainly affect the big players and could benefit the buyers due to increased competition.
Globally the scenario isn't as rosy. The USA is just out of the slump and expectedly would take sometime before going aggressive again. In other developing countries like Bangladesh etc. the situation is more grim due to difficult working conditions and harder trade restrictions.
The Indian garment industry is one of the well organized sector in India, far from reaching its saturation thus giving ample scope of opportunities to both the new and existing players. Industry analysts are keeping a constant watch on the upcoming developments with their fingers crossed.
PS: If you are a garment accessories suppliers get your online catalogue today and make profits by tapping the business queries being generated on the web 24/7. To know more click on garment accessories suppliers
Posts
0 comments:
Post a Comment