Halal Fashion in India

In 2006-07, the monthly per capita expenditure on clothing in rural India was 6.10 percent of its total monthly income. Where as in urban area, on average people spend 5.35 percent of their monthly income on clothing. Overall, India’s per capita monthly expenditure on clothing is 5.72 of its total income. Country seen a continuous growth in its per capita income over the year which has grown by 10.5% in 2009-10 as compared to last year. Moreover, according to the latest report released by PriceWaterCoopers, by 2012, India will become world’s third largest economy in terms of Purchase Power Parity. As the per capita income has increased over the year, so the purchase power parity too, a bright future of India fashion industry can be surely proclaimed.

As per the report by Associated Chambers of Commerce and Industry (ASSOCHAM), currently Indian fashion industry accounts for barely 0.3 per cent of the international fashion industry’s net worth. However, it is worthwhile to note that the global designer wear market is worth about Rs.1,80,000 crore and growing at 10-10.5 per cent every year which implies that in coming years Indian Fashion Industry will surely see some positive growth. The recent report by Grail Research could be motivating in this scenario. As per their report, the Indian fashion industry is expected to grow 178%, and will reach USD 189 MM by 2012.

In recent year, a tremendous growth has been noticed in country’s fashion & apparel sector. The growth of the Indian fashion industry is highlighted by the fact that the number of large annual international fashion events in the country has increase to 5 in 2008 from just 1 in 2004. Growth in Indian Fashion industry is mainly driven by the growing exposure of domestic designers at international forums. However, growth is also supported by other factors such as the launch of focused business education courses for emerging designers and the establishment of an industry association. Rising affluence in the country must also be credited to increase the brand awareness among Indian consumers. According to the ”Nielsen Global Luxury Brands Study”, India is among the most brand conscious countries in the world, with 35% of Indian survey respondents reporting to buy designer brands.

If Muslim population could bring in to the consideration then the future of Halal fashion is very bright in India as Indian Muslims have the fifteen percent share in total consumer market of the country. However, keeping the constraint of not so good economic situation of marginal Muslims in the country in consideration, it is assumed that still 10 percent share of Muslim consumers, in overall market is left untapped.

Indian teens are always fascinated and attracted towards the fashion and Muslim teens are not exception to them. In a segment like fashion, teenagers are the major target of all brand-builders, although a major user segment would be the adult women starting from age of 20. Muslim, being the younger segment among Indian population, are more likely to be attracted towards Halal fashion products. Comparative to men, Muslim women are keener to use the fashion products. Muslim youth women’ population share in India is greater than overall Muslim population especially in urban areas. 29.34% of total Muslim population is in the bracket of 20-39 age group, whereas overall combinely for all religions, the percentage of people in the age of 20-39 age in the country is more than 31.58%. 

Detail article may be read at http://www.halalinindia.com/halalfashion.php

1 comment: