ACU OCT- Final Draft

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FEATURE Better trade spin trickles into India's garment industry
FEATURE Chandrima Chatterjee “ Opportunities in the Indian apparel industry should have a direct bearing on the logistic business in this region. In this regard, one of the biggest windows of opportunity is that various state governments are coming up with special apparel policies aimed at attracting investment in their states, especially in the remote and underdeveloped areas. “ -Chandrima Chatterjee, Advisor, Apparel Export Promotion Council, India lobal trade volumes Gdramatically increased in 2017, its highest over the past six years, reversing a slowdown in the transport sector performance, including logistics. World transport exports grew by 9 percent during the period, positively impacting the maritime, air freight and land sectors, which a year ago saw a double-digit decline. China, India and Singapore were the leading traders in commercial services in 2017 with combined commercial exports totaling close to US$600 billion in 2017, according to the World Trade Organization (WTO). The healthy global trade exports fueled growth in the apparel or garment sector which for two years had stagnated. India as the 9th largest player in merchandise trade, with apparel as an important component, benefitted significantly with the development, and its logistics chain, for that matter. “Opportunities in the Indian apparel industry should have a direct bearing on the logistic business in this region. In this regard, one of the biggest windows of opportunity is that various state governments are coming up with special apparel policies aimed at attracting investment in their states, especially in the remote and underdeveloped areas,” says Chandrima Chatterjee, Advisor, Apparel Export Promotion Council, India. Chatterjee says the states of Jharkhand, Uttar Pradesh, Odisha, Telegana, Andhra Pradesh and several others have come up with very attractive incentives for investors to set up garment or apparel factories within their localities. Attractive wage subsidies, plug and play options for minimizing risk of new investment, capital and interest subsidies, as well as suppor t for development of common facilities are some of the benefits that the industry has offered, Chatterjee adds. The Indian international apparel industry is valued at US$17 billion with domestic market about three times bigger with its over 1.3 billion consumers. Chatterjee said the country's apparel industry has responded positively to those incentives and several new investment plans are now in the pipeline for expansion in the said states. Better logistics for growth Experts say the ease of moving garment products in and out of India will determine the growth of the industr y with speed and efficiency considered major factors in its success. Changing consumer dynamics and a very competitive retail landscape has led to reduced lead times for new products, thus, time is of essence in making a profit. In response to both the changing fashion calendar and the emphasis on staying in step with customers' interest, several brands are r e l e a s i n g m o r e c o l l e c t i o n s throughout the year. Fast-fashion brands like Zara — which releases new items four to five times faster than traditional retail brands, have led to the shrinking of the overall market lead times by 30% to 50%, according to
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