29 September 2023, Mumbai

An overview

Intex India is a significant B2B international sourcing trade show that provides a unique opportunity for direct access to the vast Indian, South Asian, and global markets.

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Leveraging India's robust manufacturing capabilities and the immense domestic demand it commands, Intex India offers unparalleled opportunities for international suppliers seeking entry into this expansive market.

Sweet spot

India is currently the world's fastest-growing major economy and is expected to witness its GDP surge to $7 trillion by 2030. 

This remarkable growth trajectory is also expected to translate into a 9.5% increase in disposable income from 2022 to 2026, with consumption projected to soar to $1.8 trillion by 2030.

India's Gen-Y population, with over 808 million individuals under the age of 35, has a growing appetite for fashionable attire. 

Tailwinds; This trend is propelling the domestic fashion and apparel brands market towards an impressive $220 billion target by 2025. 

The active wear sector is set to reach $6 billion by 2024, while the sports apparel market is anticipated to hit $2.2 billion by 2029. These flourishing sectors are well-supported by the fashion retail market, which aspires to reach $118 billion by 2028, and the rapidly expanding online sales segment, potentially reaching $130 billion by 2026.

Multiple data points

India's textile and apparel exports surged to an impressive $44.4 billion in FY22. The readymade garment exports are projected to sustain a compound annual growth rate (CAGR) of 12-13%, ultimately surpassing $100 billion by 2030.

Leveraging

In alignment with this growth, India's textile and apparel imports also witnessed a robust uptick, surging by 26.7% to $8 billion in 2022-23.

In this thriving ecosystem, Intex plays a pivotal role in assisting businesses in expanding their operations and harnessing the abundant opportunities that lie ahead.

26 September 2023, Mumbai

Introduction

Textile printing ink is a liquid or paste that contains dyes or pigments and is used to print designs and patterns on textiles. 

It is available in a wide range of colors and finishes and can be used on a variety of fabrics, including cotton, polyester, nylon, and silk.

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Market Dynamics

The global textile printing ink market is expected to grow significantly in the coming years. This growth is being driven by a number of factors, including:

• Increasing demand for printed textiles in the apparel, home furnishings, and automotive industries.
• The growing popularity of digital printing requires specialized inks.
• Rising consumer awareness of sustainability and increasing demand for eco-friendly inks.

Innovations

The textile printing ink market is constantly evolving, with new innovations being introduced on a regular basis. Some of the latest trends include:

• Development of water-based and UV-curable inks, which are more environmentally friendly than conventional.
• Development of inks with new functionalities, such as inks that can glow in the dark or change color with temperature.
• Development of inks for new applications, such as printing on 3D textiles and wearable devices.

Opportunities

The textile printing ink market offers a number of opportunities for growth, including:

• Expanding into emerging markets, such as Asia and Africa, where the demand for printed textiles is growing rapidly.
• Developing new ink formulations for specific applications, such as printing on technical textiles and medical textiles.
• Investing in new technologies, such as digital printing and 3D printing, which are expected to drive the growth of the textile printing ink market in the coming years.

In summary

The textile printing ink market is a dynamic and growing market. Manufacturers that can keep up with the latest innovations and offer a wide range of high-quality inks will be well-positioned to succeed in this market.

5 key insights about textile printing ink market :

• Market Dynamics: Growing demand, digital printing, sustainable inks
• Innovations: Water-based, UV-curable, new functionalities, new applications
• Opportunities: Emerging markets, new ink formulations, new technologies
• Overall: Dynamic and growing market, rewards innovation and quality

CREDITS: Future Market Insights report

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22 September 2023, Mumbai

Fashion retailers are expected to face profit margin pressure in FY2024 due to higher discounts, increased advertising and promotion expenses, and a demand slowdown, according to an analysis conducted by ICRA.

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An overview

Fashion retailers to face profit margin pressure in FY2024 due to higher discounts, increased advertising and promotion expenses, and a demand slowdown, but revenue growth is expected to continue. Retailers need to be proactive in managing their costs and focusing on customer needs in order to remain successful.

Data points

Despite an estimated 13% year-on-year (YoY) growth in revenue for the year, driven by the expansion of their network, the operating profit margins of 11 listed retail entities, constituting 23% of the industry's revenue, are projected to decrease by approximately 120 basis points (bps) to 5.2% in FY2024.

Outlook; While the rating agency currently maintains a stable outlook on the retail sector, the pressure on profit margins could impact the profitability of individual retailers and lead to consolidation in the industry.

Pre-empt

Proactiveness; Fashion retailers can mitigate the pressure on profit margins by focusing on cost optimization, improving product mix, and enhancing customer experience. 

They can also explore new opportunities, such as expanding into online retail and offering value-added services.

Prognosis

Overall, the outlook for the fashion retail industry in FY2024 is mixed. Revenue growth is expected to continue, but profit margins could come under pressure. 

Retailers need to be proactive in managing their costs and focusing on customer needs in order to remain successful in this challenging environment.

Driving efficiencies

Additionally, fashion retailers can focus on operational efficiency and supply chain optimization to reduce costs. They can also explore new revenue streams, such as private labels and collaborations with influencers.

By taking these steps, fashion retailers can navigate the challenges of FY2024 and emerge stronger.

ICRA analysis on fashion retailers in India: A bird's eye view

• Revenue growth to continue: 13% YoY growth expected
• Profit margin pressure: Higher discounts, increased ad spend, demand slowdown
• Outlook stable: But pressure on profit margins could impact profitability
• Proactive measures: Cost optimization, product mix, customer experience
• New opportunities: Online retail, value-added services
• Driving efficiencies: Operational efficiency, supply chain optimization, new revenue streams

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28 September 2023, Mumbai

The Wazir Advisors September 2023 report shows that Western apparel imports and India's exports remained stagnant in June and July, compared to August 2022, with domestic retail sales faring better.

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Key findings:

• Western apparel imports remained low in June and July, with the US and UK showing the sharpest declines.
• India's apparel exports continued to lose ground in June and July, with shipments to the US down 22% in August 2023 compared to August 2022.
• Domestic retail sales fared better than imports in the UK and US, with online sales of clothing growing 10% in the UK in Q2 2023 and monthly apparel store sales up 3% in the UK in July 2023.

Analysis:

The weak Western apparel market is likely due to a number of factors, including high inflation, rising interest rates, and consumer caution about spending. This is challenging for Indian apparel exporters, who rely heavily on the Western market.

However, the domestic retail market in India is expected to remain relatively resilient, supported by a growing middle class and rising disposable incomes. This could provide some relief for Indian apparel exporters in the near-term.

Outlook:

Domestic Retail Sales Fare Better; The Report suggests that the Western apparel market is likely to remain weak in the near-term. 

Indian apparel exporters should focus on diversifying their markets and developing new products and services to meet the changing needs of consumers.

The domestic retail market in India is expected to remain relatively resilient, but apparel exporters should still be mindful of the potential for a slowdown in consumer spending if the global economy weakens further.

Recommendations:

• Indian apparel exporters should focus on diversifying their markets and developing new products and services to meet the changing needs of consumers.
• The Indian government should continue to support the apparel sector through initiatives such as trade promotion and export subsidies.
• Domestic apparel retailers should focus on improving the customer experience and offering a wider range of products to meet the needs of different consumer segments.

  5 key insights:

  • Western apparel imports stagnant
  • India's apparel exports lose ground
  • Domestic retail sales fare better
  • Indian exporters should diversify
  • Domestic retailers should improve CX

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26 September 2023, Mumbai

Outlines

Cotton picking in Brazil is 94% completed in terms of the total planted area as of September 18, 2023.

In August, Brazil shipped 104.3 thousand tonnes of cotton – up by 66% compared with the amount shipped in August/2022.

Brazil is estimated to export a total of 2.4 million tonnes in the current market year (2023/24). If confirmed, this will represent a 66% increase over the previous season.

HVI results show an upward trend for the quality of Brazilian cotton.

Brazil is also estimated to export 2.4 million tonnes of cotton in 2023/24, a 66% increase over the previous year. This is due to a combination of factors, including the larger crop, improved quality, and strong global demand.

Brazilian cotton quality is improving, with 96% of samples within the desired micronaire range in 2023/24. Fibre strength and length have also improved.

Overall, the Brazilian cotton sector is poised for a strong year in 2023/24. With a larger crop and improved quality, Brazil is well-positioned to meet the growing global demand for cotton.

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Additional details:

• Brazil exported 104.3 thousand tonnes of cotton in August 2023, up 66% from the same month in 2022.
• The average cotton yield in Brazil is expected to be 1,840 kg/ha in 2023, an increase of 18.9% over the previous year.
• The main destinations for Brazilian cotton exports are China, Bangladesh, Vietnam, and Pakistan.

The Brazilian cotton sector is a major player in the global market. With its large production and export volumes, Brazil is well-positioned to meet the growing global demand for cotton.

2023 Crop

The forecast for total cotton production is 3.07 million tonnes (+1%) from a planted area of 1.67 million hectares (+20%). Abrapa predicts an average cotton yield of 1,840 kg of cotton per hectare in 2023, an increase of 18.9% over the previous year.

Export Shipments

Brazil exported 104.3 thousand tonnes of cotton in August/2023. This amount is 66% above the amount shipped in August/2022. The monthly shipments of Brazilian cotton resulted in revenues of U$ 187.7 million.

Brazilian cotton exports in the 2023/24 market year are estimated to be 2.4 million tonnes (August 2023 to July 2024). This will represent a 66% increase over the previous year, 2022/23.

Made in Brazil

Brazilian cotton quality is on the up. The Brazilian cotton that will be going out to the global market in the 2023/24 market year will present better quality indicators than in the previous season. 

One example is micronaire (MIC), which is a measurement of fibre diameter and maturity. Tests show that 96% of the samples were within the desired range of 3.50 to 4.90. 

In addition, the percentage of fibre lower than 3.6 has drastically reduced. Fibre strength and length have also improved, especially in relation to length and uniformity. 

The short fiber index is better but there is still room to improve, although this parameter is also affected by weather conditions. Another highlight in the report is the fiber colour indicators. 

The reflectance grade (which measures the ‘whiteness’ of the cotton) was within the ideal range for 94% of the samples tested and yellowing with 95% in the ideal range.

Bottom line

The Brazilian cotton sector is poised for a strong year in 2023/24. With a larger crop and improved quality, Brazil is well-positioned to meet the growing global demand for cotton.

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22 September 2023, Mumbai

According to a recent report by Crisil, organized brick-and-mortar apparel retailers in India are projected to experience a 7-8% increase in revenue during the current fiscal year. 

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Kickers

This growth is expected to be fueled by heightened demand during the festival and wedding seasons, despite the impact of inflation on discretionary spending during the initial quarter. 

Furthermore, the expansion of retail stores, including in Tier II and III cities, is poised to contribute to growth in FY23 and beyond.

Resilence; While the anticipated revenue growth is slightly lower than the pre-pandemic levels of 8-9%, it still demonstrates the sector’s resilience in the face of challenges such as inflation and rising costs. 

Indian consumers return to brick-and-mortar retail

The trend of Indian consumers visiting and purchasing from physical stores has been on the rise for some time. The pandemic has further accelerated the growth of online-to-offline retail.

BHARAT

The expansion of retail stores in Tier II and III cities is another significant driver of growth that is expected to sustain the sector’s progress in the years ahead.

Outlook; Overall, the outlook for organized brick-and-mortar apparel retailers in India appears positive

The projected revenue growth in FY23 serves as a strong indication of the sector’s recovery and its potential for future expansion.

Crisil report on organized brick-and-mortar apparel retailers in India: A quick glance

• Growth expected in FY23: 7-8% revenue increase
• Key drivers: Festival and wedding demand, store expansion
• Resilience demonstrated: Despite inflation and rising costs
• Consumers return: Online-to-offline retail on the rise
• BHARAT: Tier II and III cities drive growth
• Outlook positive: Recovery and expansion potential

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27 September 2023, Mumbai

Textile Minister's Bold Vision

In a call to action, the Hon'ble Textile Minister urges the textile sector to quintuple Technical Textiles exports, targeting a jump from $2 billion to $10 billion.

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Indian Technical Textiles Set for Explosive Growth

Rachna Shah, the textiles secretary, highlights the Indian technical textiles sector's remarkable potential.

The sector, currently valued at $22 billion, is poised to reach an astonishing $50 billion within five years.

Government's Strategic Initiatives

To achieve this ambitious goal, the government adopts a multifaceted strategy, emphasizing research and development in technical textiles, workforce skilling, and collaboration among certification agencies, industries, and ministries.

India Aims to Dominate MMF Exports

Chairman of the Synthetic and Rayon Textiles Export Promotion Council (SRTEPC), Badresh Dodhia, sees significant growth potential in India's man-made fiber (MMF) exports. 

Currently, at 30% of total exports, MMF could drive India's global presence in the textile market.

MMF Sector's Resurgence

MMF demand has consistently grown at a 10% Compound Annual Growth Rate (CAGR) in the past five years, following a period of stagnation. 

Dodhia attributes this growth to increasing awareness among Indian consumers.

Sustainability and Government Support Boost MMF

Stability in MMF prices and its sustainability factor make it an attractive option. Government initiatives, like the Productivity-Linked Incentive (PLI) scheme and endorsements by Prime Minister Narendra Modi, further boost the sector.

Bright Prospects for Technical Textile Exports

With comprehensive strategies and government backing, India's technical textiles sector is primed for exponential growth, positioning itself as a major player in the global market.

5 key insights :

• Technical textiles exports to quintuple
• $50 billion sector in five years
• Focus on R&D, skilling, collaboration
• MMF exports poised for growth
• Sustainability and government support

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25 September 2023, Mumbai

Vu Ba Phu, the Director General of the Vietnam Trade Promotion Agency (Vietrade), recently discussed the new trade show VIATT and its partnership with Messe Frankfurt. 

The event, known as the Vietnam International Trade Fair for Apparel, Textiles, and Textile Technologies (VIATT), was established to enhance trade relations between China & Vietnam.

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Vietnam, and other regional countries

VIATT is anticipated to be an annual exhibition that will feature a diverse range of products such as home interiors, textiles, garments, fabrics, and garment technology. The primary objective of the show is to foster a collaborative environment that benefits the entire Asian textile industry.

Outlook

Phu expressed enthusiasm about collaborating with Messe Frankfurt on this significant event. Messe Frankfurt is a renowned global leader in organizing trade fairs and has a rich history of over 70 years in the industry. 

Quotes

Michael Messmer, the CEO of Messe Frankfurt Asia, expressed his honor in partnering with Vietrade for VIATT. He believes that VIATT will play a crucial role in further advancing the textile industry in Vietnam and the region.

Calendar

VIATT is scheduled to be held from February 28 to March 1, 2024, at the Saigon Exhibition and Convention Center in Ho Chi Minh City, Vietnam. 

The exhibition is expected to attract over 500 exhibitors and approximately 35,000 visitors.

The company organizes more than 150 trade fairs annually across 30 countries.

The launch of VIATT marks a significant milestone for the textile industry in Vietnam and Southeast Asia. It is poised to facilitate trade promotion and foster collaboration among countries in the region.

VIATT: New Textile Trade Show in Vietnam

Key Insights:

• Promotes trade between China, Vietnam, and other regional countries.
• A diverse range of products, including home interiors, textiles, garments, fabrics, and garment technology.
• Fosters collaboration among Asian textile industry players.
• Organized by Messe Frankfurt, a renowned global leader in trade fairs.
• Scheduled to be held from February 28 to March 1, 2024, in Ho Chi Minh City, Vietnam.
• Expected to attract over 500 exhibitors and 35,000 visitors.

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22 September 2023, Mumbai

The 2023 edition of Centrestage Hong Kong, Asia's leading fashion event, featured a special section titled "AI x Fashion Reimagined." This section showcased how artificial intelligence (AI) is being used to transform the fashion industry.

One of the most notable exhibits in the "AI x Fashion Reimagined" section was the "Virtual Fashion" exhibit. This exhibit featured a number of virtual garments that were created using AI. The garments were displayed on virtual models, and visitors to the exhibit could interact with them using VR headsets.

AI x Fashion Re-imagined

Another exhibit in the "AI x Fashion Reimagined" section focused on the use of AI in fashion design. This exhibit featured a number of examples of how AI is being used to generate new and innovative fashion designs. For example, one of the exhibits showed how AI is being used to create designs that are tailored to the individual needs and preferences of each customer.

AI's transformative impact on fashion industry

In addition to the exhibits, there were also a number of talks and workshops on AI and fashion at Centrestage. These events covered a wide range of topics, such as the use of AI in fashion design, production, and retail.

The "AI x Fashion Reimagined" section at Centrestage Hong Kong was a success, and it helped to raise awareness of the many ways in which AI is being used to transform the fashion industry. AI is already having a major impact on the fashion industry, and its importance is only going to grow in the future.

The future of AI in fashion

AI is being used to transform the fashion industry in a number of ways. For example, AI is being used to:

• Generate new and innovative fashion designs
• Create designs that are tailored to the individual needs and preferences of each customer
• Improve the efficiency of fashion production
• Reduce the environmental impact of the fashion industry
• Combat counterfeiting

Evolving technologies

As AI continues to develop, it is likely to have an even greater impact on the fashion industry. For example, AI could eventually be used to create custom-made clothes that are perfectly tailored to each individual. AI could also be used to develop new sustainable fashion materials and production methods.

The future of AI in fashion is bright, and it is exciting to see how this technology will continue to transform the industry in the years to come.

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