The apex body also hopes that the sector will create additional employment opportunities for over 50,000 skilled professionals like fashion designer, merchandiser etc. The key reasons attributed for the projected growth include Indian companies' heavy investment in the industry, readily available designer wear in the shopping malls, consumers shifting focus towards designer wear and exposure to western media.
But the Indian fashion industry accounts for barely 0.3 per cent of the international industry's net worth.
As per industry estimates, Indian designer wear commands a category engagement of 66 per cent for male customers and 57 per cent for female customers. The category engagement in western designer wear is 5 per cent.
Excluding western wear, the per capita per annum spends on designer wear for men is Rs 48,627 ($1215.6) and Rs 56,271 ($1406.7) for women. About 60 per cent of male shoppers and 72 per cent of female shoppers prefer shopping for designer wear in department stores. Comparatively, 46 per cent of male buyers and 38 per cent of female buyers vouch for exclusive brand showrooms.