Quite a few clothing manufacturersin India, who have been supplying goods to reputed global garment andaccessory retailers, are now planning to launch their own brands inIndia, to take advantage of the vibrant domestic market.
The organised garment andaccessories retail sector in India is valued at around Rs 320 billionand is projected to increase to approximately Rs 900 billion in amatter of five years that is by 2015.
Those companies which are planning to enter the lucrative retailingsector are hoping to attract overseas investors or tie-up with globalbrands, as, as per current government of India policy, 51 percent FDIis permitted in single-brand retail.
The main reason is that the economies of the European Union and USA,have still not fully recovered and since these are the biggest exportmarkets for Indian apparel exports, these companies, would prefer to diversify and retain the level of operations.
Amongst Indian apparel manufacturers,who are firming up plans to launch new brands or expand existing brandsare Mandhana Industries, Orient Craft, SP Apparels and the South Indiabased Royal Classic Group.
Read more about Garment exporters tread into local markets @ Fibre2fashion.com
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