Project Report For
The project report for Readymade Cloth is as follows.
After food and shelter, clothing is by far the most important human requirement. Several years ago, we would have to rely on tailors to even get our clothes sewn, and now most of us rely heavily on ready-made clothes. And we’d have to wait weeks to months for both the mercy of tailor to get our clothes stitched, now many of us pick ready-made clothes or any kind of / size / style / price and we like as well as dress up straight away. With both the rise of online stores, without any need to go over to textile stores anymore. You can choose your dress from a computer and order it online by staying at home. Ready-made clothing is generally cheaper than a specially built one, as the content is bought in bulk quantities.
India’s textiles sector is among the oldest industries in Indian economy dating back many centuries. Nowadays, India’s subcontinent seems to be the 2nd-largest company of clothing after China. India is renowned for its great-quality clothing.
Market potential & Strategy
Strong economic growth has resulted in increased spending power in India. It has resulted in an increase in demand for products causing a bigger home market. The home market for clothing and lifestyle products, presently valued at $ 85 billion, is expected to increase by 11,8% at the Compound Annual Growth Rate ( CAGR) to US$ 160 billion by 2025.
India is currently entering the 2nd phase of growth and is observing a huge increase in domestic demand. This is mainly due to the increase in the quality of life resulting from an increase in middle-income groups.
In our target audience, the majority of the public relates to a middle-income group, as well as their buying power is better in comparison to the gulf remittance. Individuals on all economic strata usually want to dress appealing, high-quality clothing with every special event. This unit also is designed for customers of any and all classes, up to the upper middle class. Young people and students are the main focus areas. So if unit boosts grounds for domestic sales, export is also intended as a distant target.
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