siliconindia | | November 20198THOUGHTS ON THE CURRENT APPAREL & RETAIL INDUSTRY IN INDIABy Deepak Bansal, Director, CantabilCantabil is in the business of designing, manufacturing, branding and retailing of apparels. With a network of 270+ exclusive retail outlets & employee strength of more than 2500 spread across India, the CANTABIL brand offers the complete range of formal-wear, party-wear, casuals & ultracasual clothing for men and women.OpinionIN MY RETAIL SECTOR IN INDIAThe retail sector in India is emerging as one of the largest sectors in the economy. Indian retail is one of the fastest growing markets in the world and fifth largest global destination in the retail space. Retail market in India is projected to grow to USD 1,200 billion by 2021. India's modern retail to double in size over the next three years. India will become a favorable market for fashion retailers on the back of a large young adult consumer base. POLICY FORMALIZATION AND INCREASING INVESTMENTWith 51 percent FDI in Multi-brand retail and 100 percent FDI in Single-brand retail under automatic route is leading towards foreign retailers to continuously entering in Indian Market. More ease in policy norms are expected in coming years. GST as single unified tax system has given boost to the organized retail in India.GROWTH DRIVERSWith huge millennial generation coming up, Brand Consciousness will be one of the key growth drivers for fashion retail in India. Easy credit available and increase in quality product will be a leading growth driver. Urbanization with increase in purchasing power has led to growing demand in organized sector.1. Measures taken to ensure quality of raw materials used in the manufacturing process and achieve maximum customer satisfactionWe, at Cantabil, procure raw material from leading suppliers to ensure that quality and premium product can be supplied to the customers. After procurement, the fabric swatch is sent for lab testing Deepak Bansal
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