“Business opportunities are like buses, there’s always another one coming.” -Richard Branson

India’s vibrant domestic market is creating unprecedented opportunities in the garment sector, especially for would-be entrepreneurs. Some of the clothing manufacturers in India, who have been supplying products to the reputed global apparel and accessory retailers, are now toying with the idea of ​​launching their own brands. Few of the apparel accessory providers sum up the general mood like “Investors are willing, policies are favorable, and by all the angels, it looks like an idea whose time has come.”

Recent news reports confirm the fact that the organized garments and accessories sector currently valued at around Rs 320 billion, is forecast to rise to Rs 900 billion (approx) in the next five years.

Garment accessory 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 as we are doing now, although we wouldn’t mind venturing out to launch our brands through some foreign countries.” partnerships or alliances,” says one of the clothing accessory manufacturers.

An industry source confirms that among Indian clothing manufacturers, those making plans to launch new brands or expand existing brands include South India-based Mandhana Industries, Orient Craft, SP Apparels and Royal Classic Group. .

These companies hope to attract foreign investors or forge a link with global brands, in line with the Indian government’s current policy, which allows 51 per cent of FDI in single-brand retail.

Garment accessories, including fabrics, zippers, buttons and labels, account for about 30% of the total garment sector. Garment accessories suppliers are an important piece in the wheel of the entire clothing commercial chain. Any change in the supply and demand cycle will undoubtedly affect the big players and could benefit buyers due to increased competition.

In general, the scenario is not so optimistic. The United States has just come out of the depression and it is expected to be some time before it becomes aggressive again. In other developing countries like Bangladesh etc. the situation is bleaker due to difficult working conditions and tougher trade restrictions.

The Indian garment industry is one of the well-organized sectors in India, far from reaching saturation, providing a wide range of opportunities for both new and existing players. Industry analysts keep a constant eye on upcoming developments with their fingers crossed.