India has the potential to be one of the world’s largest exporters.

The value of festival goods and accessories sent by sea to the US in August 2022 from India was roughly three times what it was at the same time last year.

Even though China exports a sizable portion of Christmas décor items, a lot of first-time customers have begun approaching Indian exporters. Exports of Christmas decorations climbed by more than 54 per cent from the fiscal year 2020 levels in the year that ended in March, while exports of handicrafts increased by about 32 per cent over the same period.

Not just Christmas items are popular. Orders from the US and Europe have sharply increased for the third-largest economy in Asia, with the increase focused on labor-intensive, low-cost industries, including apparel, handicrafts, and non-electronic consumer goods.Taiwan, the EU, the US, and Japan are eager to give India another chance.

Buyers have diversified their supply sources in response to rising labor costs and disruptions from China’s strict Covid-zero regulation. India is now among the top five countries sending T-shirts and holiday decorations to the US.India has passed El Salvador to rank among the top five producers of cotton T-shirts for the US this year.

Several factors, including a ban on all cotton products from China’s Xinjiang area due to claims of maltreatment of its ethnic Uighur Muslim minority, are responsible for this.

China’s continuous decoupling from the global economy and the post-pandemic recoverypresent an opportunity for India to accelerate its investment in lengthy competition and prioritize capable- of-winning areas. India is predicted to have the greatest labor-force density in the world by 2030 and may contribute more than $500 billion yearly to the world economy.

Even though the US-China trade war began with supply chain diversification in 2018, India hadn’t made much progress at that time since Vietnam had monopolized the majority of the orders that were flowing away from China.

Companies land big orders

Order books for medium- and large-export companies increased by 30 per cent to 40 per cent in the previous fiscal year. This upswing will be more apparent in the current fiscal year, which ends in March 2023.

Cost barriers

However non-labor costs remain a barrier to the expansion of low-value-added manufacturing. The main issues include the past issues with contract enforcements, tax transparency etc. These problems must be rectified in order for India to fully realize its potential as a manufacturing hub because they do provide a barrier to its manufacturing goals.

Euromonitor International’s latest research shows, future prospects for global luxury goods and fashion industry appear bright despite current political and economic instability and the ongoing global pandemic. Key players continue to navigate challenges by reassessing their priorities and operations and meeting consumer’s evolving needs. Recovery across regions appears uncertain despite the current positive outlook on account of rising interest rates, inflation, supply chain issues and the Russia-Ukraine war. Key players are being pressurized to adapt to new consumer lifestyles and changing retail preferences with a greater importance being placed on offering value and sustainability on both a social and environmental level.

The pandemic has brought the luxury goods and fashion sector under scanner besides highlighting the plight of textile workers around the globe. Fashion leaders across the world are focusing on diversity, equity and inclusion (DEI) with consumer consciousness rising to new heights.

Luxury consumers voice opinions on social media

Consumers of luxury and fashion products are being vocal about their political views on social media. To cater to their evolving demands, fashion and luxury houses are adopting a more diverse and inclusive world with some high-profit brands featuring different sized models, embracing all cultures and races.

The concept of diversity is based on various identity theories established by psychologists since the 1970s. It is also based on the eight ‘socially constructed identities’ established by American psychologist Allan Johnson in the 2000s. This model comprises eight major identity traits that help individuals understand who they are and where they come from. The traits allow individuals and corporates to better understand themselves and others by exploring memberships of main social groups and creating more inclusive spaces.

Disconnect between companies’ promises and reality

Fashion brands and companies across the board have pledged to adopt more inclusive hiring practices and hire more people from diverse backgrounds in their marketing campaigns. However, may brands fail to adopt inclusivity indicates survey reports of influencers and industry leaders. There remains a notable disconnect between consumers desires, companies’ initiatives and reality across their business modes. This disconnect threatens their customer retention rates. Indeed, many consumers, influencers, employees and others still fail to adopt diversity despite pledges to create more sustainable and inclusive business models.

Embedding diversity through internal communication

Diversity, equity and inclusion needs to be embedded into a company’s culture through internal communication and employee training. Being transparent also helps build a positive brand image and consumers valuing the company’s efforts and integrity. It also boosts customer loyalty and companies’ commercial success.

Aware of this, corporates are including inclusion and equity into their diversity theory. They are hiring diverse talent, or featuring diverse models to create a sense of belongingness amongst all consumers and provide them with fair and appropriate opportunities to achieve their full potential.

Focusing on consumers, the concept of diversity, equity and inclusion also encompasses the entire planet. To make them successful, companies needs to integrate them into all aspects of the business lifecycle.

A two-year long pandemic followed by an ongoing war has shaken the global economy. Inflation, economic volatility seems like the new norm as consumers worldwide rethink purchase of non-essentials. In the global apparel reselling sector, the emerging picture is many shades of grey. Are apparel resellers distraught with new consumer decisions or are they not affected? In 2021, the global market value of secondhand and resale apparel was estimated at $96 billion and predictions are positive that in the next few years, it would be valued at $218 billion.

Seconds records good growth in 2022

A distinct trend has emerged where pre-loved fashion items are being purchased at a much higher rate than before as consumers cash in on the supply of much-loved items flooding the market. A perfect example of the state of the sector is Poshmark, Inc., a leading social marketplace for new and secondhand style. In mid-May, it announced Q1 financial results. The company clocked in net revenues of $90.9 million in the first quarter of 2022, 13 per cent year-over-year increase from Q1 of 2021. Manish Chandra, Founder and Chief Executive Officer of Poshmark feels investments in product innovation and marketing contributed to record active buyer growth to 7.8 million in the first quarter, up 16 per cent from the same period last year.

Meanwhile, The RealReal, the world’s largest online marketplace for authenticated, resale luxury goods reported financial results for Q1 ended June 30, 2022 and Robert Julian, Co-Interim CEO and Chief Financial Officer is upbeat. The 2022 second quarter gross merchandise value (GMV) and total revenue increased 30 percent and 47 per cent respectively, compared to the second quarter of 2021. Julian says during Q2 of 2022, The RealReal continued to see strong demand in business, especially for women’s apparel, shoes and handbags.

However, Thrift brand thredUP hasn’t fared well. Its Q1 2022-23 results revealed revenue stood at $72.69 million, a downslide of $20.71 million, registering a 29 per cent profit loss. The problem stems from this thrift app’s inability to change the Gen Z mindset towards accessible fast fashion. Gen Z forms the bulk of its customer base and thredUp is trying hard for college students to ditch fast fashion and value luxury items. Success has been limited and thredUp is currently rethinking its communication program. A thredUp survey indicates 2022 will be the fastest growing year for the reselling market, pegged at 24 per cent growth.

The story is slightly different for the niche second-hand luxury goods. Its transition into digital and online selling platforms is providing a greater access as the luxury consumer demographic undergoes change. While the second-hand luxury goods niche sector is still less than 4 per cent of overall market, according to Statista estimates, second-hand luxury has the potential to become more relevant in the future, growing at 8 per cent 2022 onwards.

Positive predictions are keeping expectations buoyant as the conscious consumer is leaning towards second-hand items as socially-conscious purchases will ensure sectorial success.

Knitwear is making a significant contribution to Bangladesh’s export earnings.

In fact it was the top foreign currency earner tothe country’s readymade garment exports in fiscal ’22. Knitwear made a 44 per cent contribution. Among the reasons are the strong backward linkage industry, its capacity to make quick delivery of products and policy support. On the other hand, the share of woven products in Bangladesh’s export earnings is 37 per cent. It was 41 per cent a decade back.

Policy supports like cash incentives and utility have helped the entrepreneurs invest in the knitwear sub-sector including the backward linkage yarn, fabric and dyeing segments.Besides, changing patterns in fashion and buyers' preferences for quick delivery of products due to the long lead time caused by Covid-induced lengthy transportation also pushed buyers to source knit products from Bangladesh.

Composite units having their own knitting, dyeing, sewing and finishing facilities are the other strengths of the country's knitwear sector. T-shirts, jerseys, pullovers, men’s, women’s and boys’ trousers, men’s or boys’ shirts are the major knit products mainly shipped to the European Union.

There are more than 400 composite knitwear units across Bangladesh. Entrepreneurs re-invest their profits and that also helped flourish the sub-sector and become self-sufficient.

Sustainable Textiles Summit will be held in New Delhi, September 22 to 23, 2022.

Experts of international repute from France, Sweden and Germany, besides India, will address and participate in the event to address the pertinent topics on textile sustainability.

There will be sessions on sustainability and circularity in the textile value chain, policy reforms and strategy for textiles sustainability and environmental issues.

There will be a panel discussion on topics such as reducing textile waste in landfills, increasing recycling and reuse, post-industry textile waste, post-consumer textile waste, sourcing fabrics from pre-used textile products, recycling technologies, and global best practices in recycling textiles.

Panelists will discuss topics like opportunities and challenges in sustainable textiles, the role of government in promoting sustainability, the sharing economy, circular product design and sustainability, and global brands’ best practices in sustainability. Other topics include automation and smart manufacturing, sustainable fibers, Industry 4.0, digital manufacturing, supply chain visibility, and supply chain resilience.

The event is being supported by the Indian ministry of micro, small and medium enterprises.

India is among the world’s largest producers and exporters of textiles.Textiles generate a huge amount of profits for companies in India as well as globally. However, the textile industry is one of the most unsustainable industries. Finding sustainable alternatives is essential to reduce the damaging environmental effects.

Nike’s new material and production process called Nike Forward took over five years of research and development to create.

This is not a traditional knit or woven, but a completely new material that drastically reduces its carbon footprint.The athletics retailer created the material and process based on growing concerns from athletes that climate change is becoming a barrier to sports. Along with the benefit of a more energy-efficient production process, Nike Forward also has a lighter density compared to regular knit fleece.The grey hoodie and crew neck also feature raw cut pockets, no zippers, and zero water use or dyes in an effort to make them more suitable for recycling.

Nike calls this its most significant clothing innovation since Dri-Fit and believes this platform can do for apparel what Flyknit did for footwear.

Nike’s latest innovation demonstrates a fundamental issue the fashion world is dealing with. The pursuit of circular fashion models has come to the forefront as retailers look to scale back their impact.Brands are increasingly under pressure to change their impact, with some beginning to utilize recycling more.

Fruit of the Loom recently launched a limited edition T-shirt collection made of a recycled cotton blend. Anthropologie has launched a denim recycling program that rewards customers with a jeans discount.

Monforts will highlight its technologies for special technical textile applications at this year’s ITMA Asia + CITME.

One is the Montex 8500 XXL stenter system for the production of technical fabrics in widths of up to 6.8 meters. Among the products made on this system are treated nonwovens for the geotextiles and filter media markets, tarpaulins, advertising banners, black-out curtains, membranes and many more.Many more applications are possible, such as the overdyeing of denim, the creation of double-face coated materials, fabrics awnings, tents and medical drapes and the pre-treatment of substrates for digital printing. A range of different doctor blades and their combinations can be supplied to meet individual requirements, including air knife, roller knife, foam, screen and magnetic roller coating.In addition, Monforts can provide the necessary explosion-proof ranges for solvent-based coatings and high temperature processes up to 320C, such as the PTFE coating of nonwoven filter material. These lines are equipped with special burners, stenter chains, and insulation.

Based in Germany, Monforts provides modern and future-oriented range configurations and technologies from a single source to allow customers to produce unique and highly-differentiated new products. ITMA will be held in China, November 20 to 24, 2022.

The global denim market is growing at six per cent. The rise in disposable income levels is aiding the growth of the denim market. Other factors are the rise in urbanization and the trend of denim shirts. Further, the growing popularity of stretchable denim jeans by blending cotton with synthetic material is further anticipated to propel the growth of the denim market.

Moreover, initiatives to improve product manufacturing are estimated to cushion the growth of the denim market. In addition, the easy accessibility of raw material will further provide potential opportunities for the growth of the denim market.

On the basis of product, the denim market is segmented into jeans, jacketsand shirts, trousers, dresses, shorts and track pants, jumpsuits, dungarees and others.On the basis of consumer type, the denim market is segmented into men, women and children.On the basis of distribution channel, the denim market is segmented into specialty stores, department stores, online, hypermarket and supermarket and exclusive stores.On the basis of type, the denim market is divided into light denim, medium denim and heavy denim.

North America dominates the denim market. Asia-Pacific is projected to observe a significant amount of growth in the denim market due to the occurrence of major key players.

India’s yarn exports declined in volume but increased in value during the first half of the current year.

During the period Bangladesh remained the top buyer of all Indian yarn exports with a 32 per cent share, while Turkey stood second with an import share of 11 per cent. Egypt, Portugal and the US were the other three nations among the top five destinations for Indian yarn exports, with a share of five per cent, three per cent and two per cent respectively. Other importers of Indian yarn among the top ten were Vietnam, Peru, China, Italy and South Korea.

The price rise in cotton improved foreign exchange earnings but discouraged export volume.The arrival of the new cotton crop in India beginning in October led to a jump in yarn exports during the second half of the last year.

Indian exporters have asked for raw material security, owing to the spiraling prices of raw cotton and cotton yarn. Another pressing issue is related to RoSCTL. Exporters want the deletion of the condition in the notification issued by DoR for holding the transferee liable for the non- realization / excess availed by the exporter, which will curtail its misuse. Additionally, the new Technology Upgradation Fund Scheme (TUFS) is awaited as the ATUF scheme expired on March 31, 2022.

Coats Digital has launched a newly amalgamated buying and cutting solution called FastReactFabric.

This is a unique, new market offering that will enable fashion manufacturers to significantly reduce fabric costs by up to 2.5 per cent, shrink fabric buying and planning times by 95 per cent and provide 100 per cent fabric tracking in order to further advance sustainability credentials and reduce overall fabric remnants that often end up in landfill. With FastReactFabric, the apparel industry can reduce the fabric required which will have a positive impact on the environment while boosting profits – putting people, planet and performance into the very core of the fashion supply chain. FastReactFabric combines Coats Digital’s previous industry-leading IntelloCut and IntelloBuy solutions into one single platform, providing a closed-loop, continuous 360-degree feedback ecosystem between buying and cutting operations, so that fashion manufacturers can accurately procure and utilise fabric effectively – reducing waste, boosting efficiency and significantly increasing their bottom line.

This is Coats Digital’s way of launching a comprehensive fabric solution that will prove instrumental in redressing some of the financial damage suffered during the pandemic while helping the apparel industry get future-proof against incoming global legislation around waste and sustainability compliance.

Coats Digital is the software business of Coats, the world’s leading industrial thread company.