Trade war – An opportunity for India to make it big in fashion
In 2018, US apparel imports were USD 86 bn (FOB value), growing at a staggering 9.8% CAGR since 2010. The US apparel market is the largest single apparel market in the world, rivaled only by the combined EU market. A breakdown of US apparel imports shows that top 8 countries have a combined market share of 74.2%, headed by China. Vietnam and Bangladesh have already been drawing the attention of many apparel brands looking for alternatives to China, as have other more non-traditional Ready-To-Wear apparel countries such as India.