Mumbai, July 13, 2023: The Clothing Manufacturers Association of India (CMAI) is set to host the 77th edition of the National Garment Fair 2023 (NGF 2023) in Mumbai from July 18 to 21, 2023. Over the course of four days, more than 1200 Brands will participate in NGF 2023, presenting a diverse range of Women’s wear, Men’s Wear, and Accessories at the Bombay Exhibition NESCO Complex in Goregaon East, and Kids wear section at the Jio World Convention Centre in BKC.
Recognized as the largest and highly anticipated Trade Fair in the Indian Apparel Industry, the National Garment Fair by CMAI serves as a vital platform for connecting National and Regional Brands, Manufacturers, Designers, and Fashion Accessories manufacturers with Retailers, Agents, Distributors, and E-commerce Companies. This biannual event holds significant prestige in the industry and is widely regarded as India’s foremost trade fair, offering a comprehensive sourcing platform that maximizes both time and cost efficiency for all stakeholders involved.
Speaking about the festive apparel market, Mr. Rajesh Masand, President, Clothing Manufacturers Association of India (CMAI), said “The apparel industry in India holds significant importance within the country’s economy. As the festival season of 2023 approaches rapidly, it becomes crucial for industry participants to closely observe consumer behaviour and trends to maintain a competitive edge.”
Speaking about the NGF 2023, Mr. Rohit Munjal, Vice President and Chairman of the Fair Committee, Clothing Manufacturers Association of India (CMAI) said, “The business generated during this four-day trade event will provide valuable insights into the industry’s sentiments and expectations for the upcoming festive season. Spanning across two of the largest venues in Mumbai, this edition of NGF covers an approximate area of 8,00,000 sq.ft. and anticipates a significant turnout of over 35,000 visitors, which include national level Retailers and Distributors.”
Speaking about the consumer demand for the upcoming festive season, Mr. Rahul Mehta, Chief Mentor, Clothing Manufacturers Association of India (CMAI), expressed, ““The industry is hopeful that the upcoming festive season coupled with the wedding mahurats in the month of November and December, will add to the growth in profits and not just volume. The initial response received for NGF 2023 is looking buoyant and we are looking forward to a successful festive quarter for the industry.”
The demand for apparel during this festive period spans across various market segments, encompassing ethnic wear, western wear, fusion wear, and more. Significantly, there has been a notable upsurge in the demand for comfortable clothing like loungewear and athleisure wear. Keeping a pulse on such developments is vital for industry players to thrive.
Festive shopping in India begins ahead of Durga Puja in the East, which sets the tone and expectations for rest of the season all the way to New Years. Over these 3 to 4 months there is an increased demand for both Indian ethnic wear as well as western and fusion wear. It is observed that there is a gradual shift towards western and fusion occasion wear especially in women’s wear, however men’s wear is returning to traditional/ethnic wear for occasions. A recent survey on wedding season business trends by CMAI indicated that economically priced products fared better than the more expensive varieties mostly due to the ongoing economic slowdown.
The size of the Indian apparel market is estimated to be Rs. 6.80 lakh crores, and has grown by between 15-20% in FY2023. however, with the costs of raw materials as well over all cost of production having gone up substantially, this growth has been entirely price-led, and the volumes would still be below the previous year by 3-5%.
