NEW DELHI, INDIA: The online business activity among the small and medium enterprises (SME) in the apparel and textiles sector has surged by 38.7 per cent this year, compared to last year, according to an IndiaMART research report.
The report on ‘Apparel and Fashion Accessories Industry’ launched by IndiaMART Knowledge Services (IKS), an in-house research unit at IndiaMART.com, further said that metro-based SMEs in this sector are more active on the Internet than their counterparts in tier II and tier III cities.
According to the report, majority of SMEs have an optimistic outlook with respect to sales in the near future. Export market is expected to touch $43 billion while domestic market will reach to $57 billion by 2015.
The IKS report also includes an exclusive analysis of apparel sector data on IndiaMART.com marketplace and draws attention to the growing online business activity among SMEs in the sector. The report is intended to help SMEs identify areas of growth for business and tap them to their advantage.
“We have been closely working with SMEs for many years now. What compelled us to go ahead and create such a comprehensive industry report was the need for updated sectoral information and insights which could be useful to the SMEs,” said Dinesh Agarwal, founder and CEO, IndiaMART.com.
He added, “While working on the report, we were able to identify growth areas for SMEs, one of which is the technical textile segment. It has immense growth opportunities to offer to them as this industry is likely to grow to $31.4 billion. With such in-depth analysis, we hope SMEs in this sector find this report as a ready reckoner for their businesses. This will be followed by other such sector-specific reports.”
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