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Luxury to India

Industry feels the concept of ‘Make in India’ is the right direction to take, to make India the powerhouse that it can be. But for the initiative to be a success, issues of tax benefits, single window clearances, heavy duties on imports, imparting of skill-based training to the labour force and development of infrastructure need to be sorted out first. Manisha Almadi Midha spoke to head honchos of some Indian brands and upcoming fashion designers for their take on the initiative.

Monica Oswal

Executive Director, Monte Carlo

In 1984, Oswal Woollen Mills (OWM) in Ludhiana launched its signature brand, Monte Carlo and transformed the Indian garment sector. While its winterwear was developed from best quality pure wool such as Australian merino wool (certified with the Woolmark logo), the brand has emerged as the masses’ first choice when it comes to purchasing value-for-money products. Its apparel line is accepted as a trend among the fashion-savvy. Monte Carlo’s range of knitwear consists of over 500 designs for men, women and tweens. The brand’s tagline ‘It’s the way you make me feel’ is an expression reflecting the love, warmth and care that Monte Carlo has delivered ever since its inception. In 2006, the brand introduced the bold, energetic Alpha range in its women’s collection. Monte Carlo is available through 225 EBOs and over 1,200 MBOs in India and abroad. Monte Carlo has also marked its presence in UAE, Nepal and Bangladesh with exclusive outlets. The products are available online now, e-tailing through its dedicated website and other e-commerce portals.

Current turnover

₹ 600 crore

Target for next 5 years

₹1,000 crore

Top 5 steps to make ‘Make in India’ a success

� Manufacturers should get support on relaxation of taxes.

� Heavy duty on imports should be reduced.

� Emphasis on quality of production.

� To get skilled labour, government should promote imparting of skill-based training.

� Manufacturers should be provided with easy finance schemes at low interest.

Top 5 hurdles in ensuring ‘Make in India’ is a success

� Procurement of licence.

� Cheap and skilled labour/workforce availability.

� Basic facilities at Special Economic Zones (SEZ).

� Unavailability of low cost transport.

� Export policies
India hosts its own fashion weeks in Delhi and Mumbai which seem to be getting bigger and better every year. The names are getting known as well – Rohit Bal, Tarun Tahiliani, Ritu Kumar, Manish Malhotra, Ritu Beri, Manish Arora, Satya Paul, Rocky S — the list just keeps growing.

Market Size

The Indian fashion industry is expected to reach US$ 400 million in a couple of years with vigorous growth of over 10 per cent year-on-year. While this is tiny compared to the global industry, it is not too bad for an industry in this stage of infancy.

The reason India’s fashion industry will have a bright future is that it has a large young population. This, combined with increasing disposable incomes, has led to an increase in consumerism. So, those who can afford are looking for high quality and originality. They love brand names. Hence, we can say that the future of fashion industry in India looks promising.

Potential

This industry offers an abundance of opportunities for artistic, hard-working and enthusiastic people. The scenario for fashion design graduates looks good, thanks to the enormous and still increasing demand for stylish clothes and the quantity of exports.

After successful accomplishment of the graduate course, one can be self-employed. On the other hand, several garment store chains, export houses, leather companies, textile mills, boutiques, fashion show organizers and jewellery houses recruit professionals fascinated with a career in fashion designing.