The 67th edition of National Garment Fair, organized by the Clothing Manufacturers Association of India (CMAI) is underway in Mumbai.
The four-day long event being organized at the Bombay Exhibition Centre, NSE Complex, Goregaon (East), Mumbai, was inaugurated by Future Group CEO Kishore Biyani.
At least 1087 brands related to leading Brands in Men, Women and Kids wear along with accessories, have been put on display by 916 Exhibitors in 986 stalls spread in an area of around 6,50,000 square feet.
‘Show Directory’, popularly known as the Fair Guide was also published by the CMAI.
Business Networking Sessions between the exhibitors, agents and distributors, high street retailers, national chain stores and e-commerce companies are also scheduled to be held this year during the event.
Rahul Mehta, President –CMAI Chairman stated that domestic market in India is expected to be growing at 11-12% CAGR and reach about US$ 160 billion by 2025 due to presence of strong fundamentals. The industry which has reported growth at a CAGR of 10 per cent since 2005, estimated at US$ 67 billion in 2017.
Domestic market reported better performance as compared to its largest consumption regions like US, EU and Japan. These regions reported lower demand and growth due to depressed economic conditions.
Ready to wear dominated the domestic market while Ready-To-Stitch market has also started gaining momentum as more and more men have started buying premium or luxury readymade clothing brands want to wear a shirt or a trouser that fits them perfectly.
Mehta also welcomed recent ban on plastic by the Maharashtra government.
