Denim apparel is one of the fastest growing segments in the Indian apparel market, with a double digit growth forecast. During the recent Denim Talks held in the capital, industry stakeholders including fashion brands such as Pepe Jeans, Jack & Jones, Mandhana Retail Ventures Ltd (Being Human Clothing), Raymond UCO Denim, Reliance Industries, Ginni International among others came together with Denim Manufacturers’ Association to discuss the potential of denim, its prospective application areas, possible alternatives and how Indian denim industry can get in line with sustainability and circular fashion.
On the sidelines of Denim Talks, Sharad Jaipuria, President, Denim Manufacturers’ Association & CMD, Ginni International Ltd shared “Indian denim industry currently stands at $3.6 billion, and has been growing
at a CAGR of 9 per cent over the last five years. The industry is expected to grow at CAGR of 11 per cent in the next five years. The steady growth is credited to the rise in consumerism, bridging luxury gap and advancements in denim fashion which have given the segment a major boost. Fashion industry globally is perceived as less environment friendly, and denim manufacturers today must take the lead in embracing sustainability which needs to be imbibed in the entire textile value chain.â€Â
The forum, which brought together a delegation of
99 professionals, also saw the unveiling of a denim industry report by its Knowledge Partner – Wazir Advisors who indicated: “In five years, we are expecting denim consumption to almost double. India’s denim fabric exports have increased at a CAGR of five percent in last six years to reach USD 410 million.†Bangladesh over the last decade has been the biggest market for Indian denim fabric with a 50 per cent + share in India’s exports for six years running, highlighted the report.