Global apparel trade is predicted to grow and reach USD 1 trillion by2020. What promises does it hold for the Indian market?

Dynamics of the global apparel market keeps changing drastically. Growth of apparel markets in developed countries are slowing down, while simultaneously, it is seeing a robust grow thin the developing nations. There is a paradigm shift due to demanding customer base, with trends inclining towards product differentiation much influenced by social, economical and environmental concerns. Among the emerging markets, India is quickly becoming a preferred destination for international apparel brands. Indian apparel market is calculated to grow at a CAGR of 13% and is predicted to reach approximately USD 124 billion by 2020. Aspirations and ground realities are what it takes to success. Global brands with deep pockets are making a beeline into the Indian market due to its stabilized economy.

Many global brands are penetrating into the I and II tier cities, while domestic brands are also strengthening their position. During 2011, Zara increased the number of stores to six. Other players such as Mango, GAP, Arrow, Diesel, Massimmo Dutti, and Banana Republic are trailing closely. The nod of the Central Government for FDI will further boost the presence of global brands in India.

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