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    January 2021

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    January 2021| 72 Pages

    India is one of the largest fashion markets in the world, and growing with time. The segment is expected to grow at nearly 11 per cent CAGR in 2017-2021 period to reach US $ 85 billion by 2021, says a report by India Business of Fashion. Fashion brands and retailers, running the second largest retail industry in the country, are now exploring the home and lifestyle category too. ‘Good Earth’, a brand which started operations with crockery and select décor items, has now apparel to its product basket. Brands like Raymond, Fabindia, Chumbak, Dandelion, Vajor, H&M, Zara, among others are catering to both fashion and home needs of their consumers. According to a TechSci Research Report, home furnishing market in India is projected to cross Rs. 40,000 crore by 2020.

    The pandemic Covid-19 continues to cause huge loss of employment as factories continue to shut down one after the other. Recently Cotton Blossom, one of the leading garment manufacturers and exporters of India, closed its operations in Tatisilwai, Ranchi (Jharkhand). Earlier, Orient Craft, closed its last unit in Sector 59, Noida. Once a leading Indian apparel exporter of India, this unit had around 800 stitching machines and was one of the main factories of the company. The export house earlier shut its operations in around 7 factories across Noida, Ranchi, Gurgaon and Chopanki (Bhiwadi, Rajasthan).

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