The Apparel Industry In India

KIIT SCHOOL OF MANAGEMENT

PROJECT REPORT ON

APPAREL INDUSTRY IN INDIA

PREPARED BY: AKASMIKA BISWAL (14202116) SNEHADRI DASGUPTA (14202121) SHAMIK CHOWDHURY (14202124) SWADESH DASH (14202126)

INTRODUCTION TO THE APPAREL INDUSTRY:

Apparel is one of the basic necessities of human civilization along with water, food and shelter. The Apparel Industry reflects people’s lifestyles and shows their economic and social status. The apparel industry in India is one of the leading apparel industries in the world. In the beginning it was quite unorganized but the scenario has been changing with time. The revolution mainly started after the economic liberalization of Indian economy in the year 1991. The opening

The sector accounts for about 14% of industrial production, 4% to the gross domestic product (GDP) and 17% to the country’s export earnings. It provides direct employment to more than 35 million people. This sector is the second largest provider of employment after agriculture. So, the growth and all round development of this industry has a direct effect on the improvement of the economy of the nation.

The Apparel Market in India:

The Indian apparel industry has a huge base in the country itself and it projects a steady growth in the coming years. The Indian apparel industry is expected to grow at a compounded annual growth rate (CAGR) of 9% from Rs.2, 73,350 Crore in 2011-12 to Rs.6, 63,800 Crore in 2021. The growth would primarily be driven by the surge in demand for readymade apparels in semi-urban areas, rise of income levels and youth population, increase in the preference for branded apparels and also increase in the exposure and information about the brands through advertisement in print and digital media. The Apparel Exports from

The company exports its product to more than 50 countries, USA, Canada, Japan, Middle East, Russia and Europe. Furthermore Raymond Textiles has state of art research and development center and is also well known for the best HR practice which has resulted in remarkable innovation and success. Raymond Textile has been responsible for raising the standard of the Indian textile industry.

MARKETING MIX SWOT ANALYSIS OF Raymond

STRENGTH:

1. Strong research and development for product and innovations

2. Loyalty of customers and high product quality.

3. Loyalty of employees due to decentralization.

4. People trust on products and high brand loyalty.

5. Being a multinational company it has the ability to attract more customers than companies.

6. Good advertising and popular branding through digital and print medias.

WEAKNESS:

1. Global penetration is limited as compared to a few other international brands.

2. Presence of Indian and international brands offers more offering to customers therefore high brand switching.

OPPORTUNITY:

1. Consistent growth over years.

2. Large and growing market.

3. Global expansion would give more opportunities for brand to grow.

THREATS:

1. All major players in the industry are competing with each other not only on low price but also better