While speaking at a session The Business of Fashion Industry organised by FICCI Ladies Organisation (FLO) an apex body of businesswomen in the country, fashion designer Namrata Joshipura said that the fashion industry has the potential to significantly boost women’s empowerment.
With its global reach, influence, and creative power, the industry can create a transformative environment that celebrates women’s individuality, challenges societal norms, and promotes inclusivity, she added.
“Fashion helps empower women to make independent decisions about how they feel, how they look and what they want to wear. When women are encouraged to dress in a way that aligns with their personal style and body type, they can express their individuality and feel comfortable in their own skin,” she said.
“As one of the fastest-growing industries in the world, the Indian fashion industry has been gaining global recognition for its creativity, diversity, and sustainability. According to a report, the Indian fashion market is expected to grow at a compound annual growth rate (CAGR) of 11-12 per cent to reach US $ 115-125 billion by 2025,” said Sudha Shivkumar, National President, FICCI Ladies Organisation (FLO) speaking on the occasion.
“The e-commerce market in India is growing rapidly, with a projected CAGR of 20 per cent to reach US $ 99 billion by 2024. This too presents a significant opportunity for Indian fashion brands to grow,” she added. Others who were present on the occasion included the FLO Hyderabad Chapter Chair, Ritu Shah and Priya Gazdar, Vice President.
