The National Garment Fair will be held in Mumbai, January 27 and 28, 2016. This edition of the fair will have 283 stalls displaying over 330 brands. About 15,000 retailers and trade visitors from all over India are expected to visit. Exhibitors will present a wide range of men’s, women’s and kids’ wear. Also on display will be ethnic wear, intimate wear, sportswear etc. for Spring/Summer 2016.
Meanwhile, the Indian apparel industry is eagerly awaiting the implementation of the Goods & Service Tax (GST). The industry wants readymade garments to be included in the list as the textile industry is the single largest employer after agriculture in the country. Presently, the domestic apparel industry is facing a slowdown but is confident that after the implementation of GST, market sentiments will improve. On the export front, uncertainty still prevails in Europe, which is a major market. However, if the Chinese yuan continues to depreciate, it could hurt Indian apparel exporters as both India and China see the US and Europe as crucial markets.
The size of the Indian apparel industry is estimated to be around Rs 3,50,000 crores, out of which Rs 2,50,000 crores is the size of the domestic apparel industry.