India’s textile and garment industry must look to future trends, tap into the needs of the market and work with a more sustainable approach if it is to emerge more strongly from the pandemic, the organiser of the country’s leading textile exhibition has said.
The suppression of demand in the global textile and apparel market can become an opportunity for Indian exporters, according to Raj Manek, executive director and board member of Messe Frankfurt Asia Holdings Pvt Ltd. While the sector is currently experiencing a deficit in demand, manufacturers should remain future-focused and prepared to meet the preferences of their clients as demands resurface, he says.
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“New trends will shape the future of Indian textile and apparel segment in the coming period. Businesses that can recognise the ebb and flow of the market and focus on adopting sustainability and recyclability in their business models will bounce back more strongly.”
As a future vision, Manek says Indian textile and apparel exporters must strongly focus on implementing competitive pricing and running better delivery schedules to match international standards in order to gain greater preference from importers worldwide. In the case of domestic retailers, digital business models will remain prominent.
“Targeting small pockets of demand and focusing on shorter turnover time will be an effective strategy for apparel producers to deal with current market inconsistencies,” adds Manek. “Businesses that can recognise the ebb and flow of the market and focus on adopting sustainability and recyclability in their business models will bounce back more strongly.”
The need for efficient allocation of costs and materials have become a highlight for Indian apparel segment during the pandemic. Manek suggests manufacturers imbibe a circular economic model into their businesses and repurpose pre and post-consumer waste to save resources as well as minimise expenditure on raw materials and logistics. He also points to the growing demand for designer masks, protective kits that couple safety with convenience, and apparels made with anti-viral fabrics.
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By GlobalData“Tapping into the urgent needs of the market, identifying future trends and working with a sustainable approach will definitely enable the Indian textile and apparel sector to emerge more strongly organised and well-equipped to face the new normal.”
