Bangalore, July 25 (ANI): As industries around the world are adapting cost cutting techniques to survive affect of recession, the Indian fashion industry is gearing up itself to survive recessions' onslaught.
Designers in Bangalore say that they are now reinventing themselves by making use of less expensive fabrics to cope with the prevailing downward trend in global economy.
"They (fashion designers) are reinventing themselves, presenting the whole thing in a new way so that... we are trying to cut down the cost, we are trying to use the fabric not that lavishly exorbitantly costly. So, this is how we re trying to incorporate the whole thing," said Abhi, a fashion designer.
Some feel that fashion has its own following and so those looking for new trends will definitely buy albeit they would look for something that doesn't make a hole in their pocket.
"People will be compromising on the budget but not on the quality. So there will be sales, there will be business. This is just a small little phase at the moment that is little recession hit in fashion but it is not a total attack," Tejas P Gandhi, another fashion designer.
Indian fashion industry has raised its global profile in recent years, but it has yet to make a major impact on the international fashion arena.
Some designers including Manish Arora, known for his colourful and distinct clothing line, have showcased their collections abroad. He will be the first Indian to participate in the prestigious Paris Fashion Week.
According to a report of Associated Chambers of Commerce and Industry of India (ASSOCHAM), the Indian fashion industry, driven by increasing investments, is expected to reach Rs.7.5 billion by 2012, more than double its current size of Rs.2.9 billion. (ANI)