Indian Domestic Garment Industry Anticipates 20% Surge in Festive Retail Sales
MUMBAI: The 77th edition of the National Garment Fair (NGF 2023) in Mumbai, organized by the Clothing Manufacturers Association of India (CMAI), was a roaring success with more than 35,000 visitors comprising national and regional retailers, distributors, and wholesalers. Over the four days (July 18-21, 2023), the enthusiasm of the participants reflected the optimism from retail sales during the upcoming festive season.
Spread across 8,00,000 sq.ft., the National Garment Fair 2023 (NGF 2023) saw the participation of more than 1200 brands presenting a diverse range of Women’s wear, Men’s Wear, and Accessories at the Bombay Exhibition NESCO Complex in Goregaon East, and the Kids wear exhibition at the Jio World Convention Centre in BKC.
Speaking about the domestic garment industry, Mr. Rajesh Masand, President, of the Clothing Manufacturers Association of India (CMAI), said, “Since the start of the year, the garment industry has been grappling with a certain slowdown with moderate growth of 5-6% in garment retail sales on average. Numerous brands and manufacturers have experienced a downturn of 10-15% compared to the previous year. Despite these challenges, there is optimism surrounding the forthcoming festive season, as the demand for apparel is anticipated to be robust.”
Speaking about the NGF 2023, Mr. Rohit Munjal, Vice President and Chairman of the Fair Committee, Clothing Manufacturers Association of India (CMAI) said, “The success of the 77th National Garment Fair is a promising sign for the apparel trade, indicating a positive outlook for the upcoming festive season. Notably, prominent retailers and distributors from the country were observed attending the fair, showing interest in exploring regional brands with the potential for nationwide growth. The continuous growth and strength of NGF can be attributed to the unwavering support and active participation of both brands and retailers. Their consistent involvement has been instrumental in making the fair increasingly influential and successful.”
The size of the Indian apparel market is estimated to be Rs. 7.80 lakh crores and has grown by between 15-20% in FY2023. Speaking about the present outlook of the domestic garment industry, Mr. Rahul Mehta, Chief Mentor, of the Clothing Manufacturers Association of India (CMAI), said, “The organized segment of the market is projected to encompass approximately 25-30% of the total share. Prominent brands like Shoppers Stop, Reliance Trends, Lifestyle, V-Mart, and others are actively extending their presence and swiftly expanding their footprints into Tier-2 and Tier-3 markets.”
Recognized as the largest and most highly anticipated Trade Fair in the Indian Apparel Industry, the National Garment Fair by CMAI serves as a vital platform for connecting National and Regional Brands, Manufacturers, Designers, and Fashion Accessories manufacturers with Retailers, Agents, Distributors, and E-commerce Companies. This biannual event holds significant prestige in the industry and is widely regarded as India’s foremost trade fair, offering a comprehensive sourcing platform that maximizes both time and cost efficiency for all stakeholders involved.
 in Mumbai, organized by the Clothing Manufacturers Association of India (CMAI), was a roaring success with more than 35,000 visitors comprising national and regional retailers, distributors, and wholesalers. Over the four days (July 18-21, 2023), the enthusiasm of the participants reflected the optimism from retail sales during the upcoming festive season.){kind=link}