India needs to highlight globally it apparel and fashion industry, which is a big foreign exchange earner for the country, a senior CII official said today.
“Fashion and apparel business is not only earning the second highest foreign exchange for the country, but is also the second largest employment provider. It is extremely relevant to highlight the significance of the Indian Fashion Industry in the Global economy...,” CII Eastern Region Chairman (Education & Skill Development Sub-Committee) Aloke Mookherjea said at seminar here.
CII said the Indian textile sector is one of the largest textile industries in the world and the country earns around 27 per cent of the foreign exchange from exports of textiles and related products.
However, it added, with growth slowing down in developed markets, the dynamics of the global fashion market are expected to change dramatically.
“In addition to this, global apparel markets in the recent past have shown a paradigm shift, moving towards increased product differentiation, and catering to a diverse, aware, and demanding customer base,” CII said.
Attending the seminar on ''Fashion in Global Economy Emerging Challenges and New Directions'', Jaya Shree Textiles'' A K Sinha said, “In this changing world, beauty pageants, smart technologies and the growing middle class are the decisive factors for changing fashion technology.
There is ample scope for the industry to grow and we should maximise the potential.” IIFT Professor K Rangarajan added that though the opportunity for growth was huge, India needed to proceed cautiously by mapping the present clusters and creation of cluster levels, faster development of infrastructure and creation of network.
The seminar was jointly organised by CII and NIFT.