Indian denim makers expect 15% growth in domestic market

In a conversation with fibre2fashion, chief financial officer of Aarvee Denim, Mr. Utsav Pandwar said, ““We are expecting the Indian denim industry to grow 15 percent in domestic market and 5 percent in export markets.”

When asked about the surplus capacity of denim industry, he informs, “Currently, there is a situation of over-supply mainly because of expansion by existing companies and entrance of some new companies, but the demand is growing consistently at the same rate.”

Mr. Sandeep Agarwal, denim sector consultant, says, “Though the industry might face certain problem due to the increasing capacity, the denim makers are trying to introduce new products in the market to increase the penetration in the domestic market.”

“The visible growth of Indian denim industry is expected to continue for next three years,” he opines.

Last month,  Mr. Rajesh Dudeja, the Founder of Denim Club India, said, “Because of the decline in denim production in China and USA, many Indian mills, which had started witnessing a slight dip in demand recently, will again be in a commanding position and the denim prices might also see a rising trend in the near future.”

Fibre2fashion News Desk - India