Inaugurating the "India Fashion Forum 2008, Mr. E. V. K. S. Elangovan,
Minister for Textiles, said that fashion is the major driving force
of the Indian retail sector. Sensing immense opportunities in the sector,
a lot of Global fashion brands have started recognising India as an
unexplored gold mine. However, a lot remains to be done to turn the
country into a hub for fashion.
HE also added that Indian brands in fashion that can be comparable
with the leaders in the other sectors like FMCG and consumer durables.
Mobile phones have become the fourth essential commodity after roti,
kapda aur makaan, said Kishore Biyani, Managing Director, Future Group,
adding that the mobile phone industry was eating into the share of the
apparel fashion industry. He also maintained that marketers should visit
the 'real' India, to innovate on products rather than go to the US or
Speaking on the same Nikhil Chaturvedi, Managing Director, Provogue
admitted that Indian brands still had a long way to go as compared to
foreign brands which were making inroads into India. "But I do
not want to create a market before its time has come. Today, the mobile
phone sector is booming. After its cycle is over, it will be the turn
of the garment sector," he said.