Did you know? The textile and apparel industry in India employs a staggering 45 million people, with 3.5 million dedicated to handloom work. Beyond just providing jobs, this sector is a hotbed for entrepreneurship. Take, for instance, Raja Rani Coaching—possibly the fastest-growing tailoring academy, as seen on Shark Tank India. Whether you aspire to launch your own label or a venture akin to Raja Rani Coaching, the opportunities are boundless.
Recently, I had a conversation with a family friend who was inquiring about a career in fashion designing for their daughter. Like many others, they were concerned about its stability and future prospects. This led me to realize that there might be numerous individuals contemplating similar questions.
Hence, this article aims to shed light on the fashion industry, providing insights and clarity for aspiring individuals. In 2024, there shouldn’t be any hesitation in pursuing your passion for fashion; after all, passion above all, or shall we say, fashion above all!
Textile and Apparel Industry: Key Trends
The fashion landscape is ever-changing, fueled by consumer demands and technological advancements. In India, the textile and apparel sector is a significant contributor to the economy, representing 2.3% of GDP and boasting impressive export figures.
Looking ahead, the Indian apparel retail market is on track for substantial growth, with projections estimating a revenue surge to US $105 billion by 2024. Key trends driving this growth include a rising demand for inclusivity and personalization, a shift towards ethical and eco-friendly practices, and a focus on enhancing customer experiences.
Women’s apparel dominates the market, and the industry is expected to see a 23% increase in employment. Furthermore, the sector is set to achieve a Compound Annual Growth Rate (CAGR) of 12%, reaching US$250 billion by 2030, significantly impacting India’s GDP.
Government Initiatives
Recognizing the immense potential and pivotal role of the fashion industry in the economy, the government has introduced various initiatives and schemes to bolster revenue generation and employment creation. Some notable initiatives include:
- Amended Technology Upgradation Fund Scheme (ATUFS)
- Production-Linked Incentive (PLI) Scheme
- National Technical Textile Mission
These schemes incentivize investments in modern technology and infrastructure, thereby enhancing the sector’s competitiveness. To delve deeper into these initiatives, interested individuals can explore the official website of the Ministry of Textiles.
Training and Skill Development
In addition to schemes aimed at industry growth, the government has emphasized training and education. Here are three major institutes where aspiring fashion enthusiasts can acquire certifications and kickstart their journey:
- National Institute of Fashion Technology (NIFT) – https://www.nift.ac.in/
- Apparel Training & Design Centre – https://atdcindia.co.in/
- Sardar Vallabhbhai Patel Institute of Textile Management – https://svpistm.ac.in/
You might also be interested in exploring more about ATDC – https://nationalskillsnetwork.in/atdc/
These institutes play a crucial role in nurturing talent and equipping individuals with the skills needed to thrive in the textile and apparel industry.
The Indian textile and apparel industry stands as a significant pillar of the economy, providing livelihoods to millions and making substantial contributions to GDP. With government initiatives and schemes poised to enhance its growth and competitiveness, aspiring fashion professionals have a promising landscape to explore and conquer. So, if fashion is your passion, there’s never been a better time to pursue it. Let your creativity soar, and embrace the endless possibilities that the world of fashion has to offer!
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