Post-pandemic, the overall growth of the industry has been minimal in line with the GDP growth rate of the country. To boost MSME trade of the garments manufacturers ahead of festive season, Clothing Manufacturers Association of India (CMAI) is organising the North India Garment Fair (NIGF), in response to the demand of garment manufacturers and retailers of North India and to give a boost to the garment trade in this region. The North India Garment Fair 2023 (NIGF 2023) by CMAI will be held on May 30 to 31, and June 1, 2023 at the India Exposition Mart Limited, Noida.
The NIGF 2023 by CMAI has already become North India’s largest garment exhibition in the domestic sector boasting of 258 exhibitors and covering exhibition space of 1,40,000 square feet. Exhibiting at the fair are garment manufacturers that comprise of more than 95% MSMEs from across India, including Mumbai, Surat, Jaipur, Bengaluru, Indore, Ludhiana, UP, and the Delhi-NCR. Over 10,000 retailers from all over India are expected to visit the North India Garment Fair 2023 (NIGF 2023).
Speaking about the industry outlook, Rajesh Masand, President, Clothing Manufacturers Association of India (CMAI), said, “The domestic apparel industry in India has been a crucial contributor to the growth of the economy. In recent years, the industry has witnessed a muted demand for textiles and clothing both domestically and internationally. However, the sector’s growth potential is immense, owing to the country’s demographic and economic potential, leading to many opportunities for businesses and employment. The industry can leverage these opportunities while addressing the challenges to continue growing and contributing effectively to the Indian economy.”
“The ongoing withdrawal of Rs. 2000 notes by the Reserve Bank of India has created an unusual opportunity for the Retail Trade, as consumers may want to utilise their notes in spending rather than queuing up at the banks-and this might lead to preponement of shopping activities for the upcoming festive season,” Rajesh Masand further added.
The Reserve Bank of India’s consumer confidence survey from January 2023 indicates slight improvement in sentiments for spending from 70.2 to 70.8. Though consumers’ sentiment on current expenses witnessed some moderation, but their expectations of overall spending improved marginally for both essential and non-essential items.
Adding to this Rahul Mehta, Chief Mentor, Clothing Manufacturers Association of India (CMAI), said, “The industry is gearing up for the festival season with new collections and offers, hoping for a surge in demand for traditional clothing, as well as modern and Western attire. The demand for apparel during the festival season is not limited to just one particular segment of the market; it encompasses a wide range of clothing, including ethnic wear, Western wear, fusion wear, and more. Furthermore, there has been a significant increase in demand for comfortable clothing, such as loungewear and athleisure wear.”
“There is also an increased trend towards eco-friendly and sustainable fashion, which can benefit small and medium-scale producers of traditional textiles,” added Santosh Kataria, Chairman of CMAI’s North India Garment Fair.
The recently concluded Fabrics, Accessories & Beyond Show 2023 (FAB Show 2023) organised by the Clothing Manufacturers Association of India (CMAI) in April 2023 generated business of about Rs. 2000 cr during the three days of the B2B events. This year the CMAI FAB Show 2023 witnessed over 12,000 visitors including more than 1500 top platinum buyers and brands including Amazon, Ajio, Anita Dongre, Bewakoof, DMart, Firstcry, Jack & Jones, Killer, Lifestyle, Max, Myntra, Mufti, Raymond, Nykaa, Pantaloons, Pepe Jeans, Pothys, Shoppers Stop, Siyaram’s, Soch Apparel, Spykar, V Mart, Westside, Zudio, among many others.
The domestic apparel industry in India is an important sector that plays a vital role in the country’s economy. With the festival season of 2023 fast approaching, it is imperative that industry players closely monitor consumer behaviour and trends to ensure they stay ahead of the curve.
