Hyderabad’s FLO (FICCI Ladies Organisation) Chapter was invited by FLO National to organise a program in Delhi and its Chair Ritu Shah was invited to be a Day Chair for a session on the Business of the Fashion Industry. The guest speaker of the session was Namrata Joshipura, one of the most celebrated designers of the country, a visionary Fashion Designer whose designs transcend geographical boundaries. Her creations celebrate global aesthetics.
The Indian fashion industry has been gaining global recognition for its creativity, diversity and sustainability, said Sudha Shivkumar, FLO National President. The Indian Fashion industry according to many surveys is expected to reach 115 to 125 billion US dollars by the year 2025 and is expected to record a CAGR growth of 11 to 12%.
With the vast array of products and services such as design, production, marketing, retail, etc the fashion industry is a huge fertile market for women entrepreneurs to explore, Sudha said.
This is a novel initiative where FLO chapters are invited to New Delhi and organise a program, which will provide an opportunity for better networking, Sudha shared.
Women empowerment, diversity, and inclusivity are the buzzwords now all over the world. But FLO has been talking about them for the past 40! years, said Ms. Sudha.
I had the best of both worlds: New York, where I moved after marriage and New Delhi, the country where I was born. If Delhi has given textiles, colours and what have you, the New York sophistication. I have blended both worlds which still stay in me and are part of my DNA.
Replying to how technology and e-commerce are shaping up the future of the fashion industry, Namrata said both these have already defined the way the industry works. We leveraged it. It did magic, it took as far flying places without much effort. We delivered a product in Kunnur in India and the same week in Saudi Arabia. That is the reach of modern technology.
E-commerce has taken a different turn and has become a mainstay especially during the covid it stayed on.
Replying to Ritu Shah’s question on sustainability, slow and fast fashion, Namrata said that sustainability and fast fashion are not friends and they can never be friends. Slow fashion comes at a cost, the people need to understand it, she said. Slow fashion is the way forward.
While fast fashion emphasizes quick and affordable trends, it often comes at the cost of environmental degradation.
Replying to future industry Namrata said it is a crowded space. There is no entry barrier. You need to have your distinguishing factor to survive.
Sharing details on her return to the city today Ritu Shah said it is an honour bestowed on Hyderabad Chapter.
She said Namrata's story is not just about fashion; it's a narrative of empowerment, perseverance, and success.
FICCI FLO embodies the collective power of women's entrepreneurship; FLO's mission is to promote economic empowerment and equal opportunities for women. We strive to encourage, motivate, and assist women to showcase their talents, skills, and experiences across various industries and sectors, Ritu Shah said