Introduction About India cosmetic industry Indians have become more aware of image conscious, corporatization, Life style and growing income levels, this increasing consumer awareness has led to the rapid growth of Cosmetic Industry today in India. The Indian Cosmetics Industry is defined for hair care, skin care, fragrances oral care segments and color cosmetics, which stood currently estimated at $950 million, is likely to grow to $2.68 billion by 2020. In India the annual growth of the cosmetic and the beauty markets is estimated to be in the range of 15-20 per cent in the upcoming years, twice as fast as that of the European and US markets. The personal care and beauty market which is known as cosmetic Industry in India has a huge potential
1.1 Indian Fashion Industry – The Dame in a Saree Indian economy is undoubtedly growing rapidly but it is also witnessing major shifts in consumer preferences due to increasing disposable income and brand awareness. The techno geek millennial population are raising the corporatized retail within the country. Indian apparel industry is the second largest contributor in the retail industry. (IMAGES Business of Fashion, 2017) Domestic market size of the clothing and footwear industry in India is 68 billion dollars. Fashion and its intermediary industries
The global fashion industry is one of the most important industry sectors in the global economy. It generates up to $2.5 trillion in revenue a year and has over 60 million workers employed around the world. The fashion industry is huge and it has always played a significant role in the world economy. Clothing, shoes and accessories are not only necessities for daily wearing but also a way of expression from an individual’s esthetic concepts, self-identity and social status, to the trend of the world, the era, and the generation. Nowadays, the global fashion industry has rapidly adapted to a new environment, caused by the emergence of fast fashion and advances in communication and digital technologies.
In modern world, one of the fastest growing industry is “Cosmetics Industry”. A report from Ernst & Young finds, that over the past ten years this industry has grown by 3.8% and reached up to €181 billion. The market value of this industry was €127 billion in 2005. Whereas in 2014, it reached a projected market value of €181 billion. Although it faced a crisis period in 2008 and 2009.
It is expected to sum another 1,50,000 jobs in the coming fiscal year according to NASSCOM. The phenomenal success of Indian IT- ITeS industry can be contributed to the favourable government policies, healthy growth of related industry and competitive environment prevalent in the industry. The interplay of these forces has led to putting the industry on the global map .The IT industry has not only transformed Indian image globally , but it has also exercised economic growth by increasing the higher education sector. The applications of IT are unmatched in current world. It has employed almost to 10 million Indians and hence, has contributing a lot to social transformation in the country.
Indian telecom industry has gone through a high pace of market liberalization and growth since the 1990s and now has become the most competitive in the world and one of the fastest growing telecom markets. The Industry has grown over 20 times in just 10 years, from under 37 million subscribers in the year 2001 to more than 840 million subscribers in the year 2011. India has the world’s 2nd largest mobile phone user base with more than 930.12 million users as of May 2012. It has the world’s 2nd largest Internet user-base with over 300 million as of June 2015. Telecommunication has helped in the socioeconomic development of India and has played a significant role to narrow down the rural and urban digitalization divide to some extent.
Even public figures like the Duchess of Cambridge, Kate Middleton, can now be seen wearing dresses from retailers like Zara and H&M. According to Timeout for Fast Fashion, published by Greenpeace, clothing production has doubled from 2000 to 2014, and the sales of clothing rose from $1 trillion in 2002 to $1.8 trillion in 2015. Furthermore, it is predicted to be reaching a total of $2.1 trillion by 2025. There is no doubt that the apparel industry is becoming more profitable than ever. Unfortunately, there is a dark story behind all that profit.
And since then, international tourism has been multiplied by 50 compared to 1950, and has reached 1,186 million tourist arrivals in 2015. The forecasts are striking as they expect 1.8 billion tourist arrivals by 2030, due to a growth of 3,3% per year between 2010 and 2030. Concerning the domestic tourists, UNWTO estimates the
Background and Motivation India is a growing economy and the average dispensable income with the consumer is increasing. Also the population of India is expected to grow to about 1.35billion by 2020 making it the most populous country in the world. This has led to increased consumer spending leading to FMCG becoming fourth largest sector in Indian economy. This sector witnessed a growth rate (CAGR) of over 11% in the past decade and is expected to increase at a compound annual growth rate (CAGR) of 14.7 per cent. The various factors that have contributed to the growth of the FMCG sector in India are: Large base of consumer – The exploding population of the country has worked in favor of the growth of the industry.
The population increase and the increase in the incomes are likely to increase the sugar consumption significantly over the next 10 – 15 years. By 2020, the demand may approach 1 million Mt of sugar. So now a days sugar factory important in Sri