Amongst all the major industries contributing to the economic growth of the country, the fashion industry surely counts as one of the most promising ones. With more and more people becoming aware of the trends and traditions of this industry, fashion has swept the economy by storm. The last year has already reckoned this industry of opportunities and scopes, and the current year 2019, is counting hard on the latest trends envisaged through several types of research and studies. According to the predictions based on a market survey done on several related companies and individuals associated with the fashion domain, 2019 has been declared as the year of awakening for the fashion industry.
The global trends show that there has been a paradigm shift in the market, technologies, demand patterns, and consumer choices. Though the change has the potential to drive the industry forward, it also has certain risks associated with it like every other new element of any industry. India, being one of the global leaders in the fashion industry contour, is all set for a leap with the top trends taking control of the market. Here are some of the top trends that will define the health of the Indian Fashion Market shortly.
Eastern emerging markets
The global fashion is becoming all the more focused towards the Indian market. The recent upsurge in the economic factors along with the shift of middle-class fashion orientations is contributing substantially in the formation of fresh horizons for the Indian fashion industry in 2019. The impactful macroeconomic growth predicted to be as substantial as 8% over 2018 to 2022 has been the primary impetus for such a rise. The middle-class concentration has also been predicted to grow at a rate of 1.4% every year, which would outpace China, Brazil, and Mexico in terms of fashion. Hence, India is sure to emerge as one of the most significant consumer markets, soon fueling the process of growth of the fashion industry.
Prices and policies related to global trade have always been a significant determinant of the health of the fashion industry. With new trade agreements in place, the global fashion fraternity is moving towards a drastic change in the trade relations associated with cross border transaction. These changes will endow the fashion market in India with a better bargaining position in terms of prices and sourcing. The growing market demands and the expanding economy with larger and more manufacturing units compel the fact that India will have a stout stand during the changeover. This, in turn, may also trigger the process of export growth, which would account positively for the economy and the industry as a whole.
Higher awareness among the general masses
The consumers are growing more aware of the sustainability aspect of the fashion world and are becoming more inclined towards organically produced items. India has always been a major source of organic threads and handloom artistry. Moreover, the practice of shopping is also experiencing a radical change through the introduction and mass acceptance of online shopping platforms. The garments and accessories that were regarded as high-class consumption articles even a decade ago have now become the choice of the middle-class purchasers who account for the majority of the sale in the fashion industry. Hence, opportunities for growth for the industry are flying high.
We, at K.R.MangalamUniversity, believe in excellence and creativity when it comes to fashion studies. We know that the market is growing faster than ever towards the adoption of global trends. To that end, we always make sure that every student of Top Colleges for Fashion Design Program Delhi NCR receives relevant guidance and training so that they could emerge as a leading designer with an individual niche of art. Also, the world tomorrow will need fashion designers with hands-on knowledge of the latest technologies. Learning to use the technological tools and techniques for better results is a necessity now. We, at KRMU, regarded as the Best Fashion Design Program Institute in Delhi NCR, provide regular hands-on training on the latest tools used in the fashion industry. This helps our students find better and augmented ways of applying their expertise for better outputs, thereby ensuring great professional opportunities for them in the future.