India has one of the fastest rising overall retail markets in the world, with over 1.2 billion people contributing to it. The growth rate is estimated to cross the USD 1500 billion milestones by 2026 if it sustains the annual growth rate of 10 percent. The Indian apparel industry is the main contributor to the retail market after the food and grocery sector and is also estimated to grow to about USD 115 billion dollars by 2026, with a growth rate of 9.7 percent, annually. Undoubtedly, this has opened a world of opportunities for fashion retailers and outlets to grow and expand their business among the Indian economy.
Distribution of the Indian Apparel Market
Among the Indian apparel sector, a general classification of men, women, and kid’s clothing can be perceived with men’s clothing taking the largest slice of the cake. Each of these sectors has separately been influenced by the western trends which have been described below:
Men’s Apparel
Among men, the working sectors usually follow a dress code in most offices consisting of collared shirts, trousers, and ties, etc. which are results of the western integration into the Indian culture. However, apart from the usual dress code, formal wear is also accepted for more official occasions that include coats and loafers, etc. As for casual attire, denim has become the accepted norm among the younger population, with about 14 percent growth per year. With the saturation of international western brands in the Indian market, industries are turning a huge profit as a result.
Women’s Apparel
The women apparel market in India consists of western, fusion, traditional, and innerwear. Although traditional clothing like shalwar kameez and saree is a leading market, in recent years, it has faced great rivalry from the western sectors—the reason being the increase in working women that prefer comfortable and work-friendly clothing. Then again, the young women are also apt towards the western outfit such as tops, t-shirts, and jeans due to their increase in popularity. The female t-shirt market alone has a growth rate of 17 percent per annum, which can be significantly profited from by the industry.
Kid’s Apparel
Although not the most significant sector, kid’s wear is one of the quickly expanding sectors in the Indian apparel industry. Kids these days due to the heavy influence of social media and western shows, tend to adopt their attire as well. Denim and t-shirts are popular among boys and girls in their juvenile as well as tween years. Hence a turnover is to be made in this sector as well, for the Indian market.
In a nutshell, western culture has made an undeniable impact on the apparel sector, so much that the industries have taken notice and started to make money on these western trends. In the forthcoming years, western culture is expected to grow deeper into Indian roots, and the economy is probably going to benefit from it.