Recognising the wealth of opportunity in the growing Indian market, Giant Group and Jamuna Apparels joined hands using a collaborative model to provide both knit and woven options under one roof.
The Indian market is growing at an astounding rate said Raisha, Manager of Corporate Affairs at Jamuna With an ever growing middle class and increasing disposable income, penetrating this market is essential for any manufacturer who wants to see their business grow.
Last year, Reliance Trends, one of the largest retailers in apparels in India saw sales of apparels increase from 36000 to 45000 pieces per hour and is continuing to grow.
With figures like these, it is a matter of time before the Indian supply base becomes saturated. Buyers will need to explore new sourcing options if they want to continue to meet the growing demand in India and a partnership with Bangladesh makes the most sense strategically. This is a great opportunity for us to explore the Indian market. India imports RMG and Fabric from China in a large amount but quite recently duty/taxes has been doubled. Indian retailers are already sourcing from Bangladesh, and we can estimate that this will only increase. All RMG exports is duty free between India and Bangladesh said Azfar Hassan, Director Giant Group.
Reporting from Bangalore, its been an absolute pleasure!
- Team Giant Group