Tamil Nadu Intimate Wear Market - Poised For Exponential Growth

THE INTIMATE WEAR SEGMENT IN CONSERVATIVE AND TRADITIONAL TAMIL NADU IS SEEING A SILENT REVOLUTION AS DEMAND FOR FASHION, STYLES AND COLOURS IS MAKING INROADS NOT ONLY IN THE URBAN CENTRES, BUT IN TIER 2 AND 3 CITIES AS WELL. BOTH BRANDS AND RETAILERS ARE GEARING UP TO CORNER A SLICE OF THIS HUGE PIE. INNER SECRETS SPOKE TO A CROSSSECTION OF INDUSTRY PROFESSIONALS TO GAUGE THE TRENDS AND GROWTH PROSPECTS IN THIS EXCITING FASHION SEGMENT. A REPORT…

Tamil Nadu – a state bustling with economic activity, has earned the distinction of being India’s second largest state economy with Rs. 15.96 lakh crore in gross domestic product. It is the fourth-largest state in India by area and the sixth-most populous at 79.788 million in 2017, and retains its top rank in industrial and services development.

The state’s economic growth has been impressive and quite understated. The fact that Tamil Nadu has consciously and strategically maintained a diversified economic base gives it a fair amount of stability. Its economy is anchored by the automobile, software services, hardware manufacturing, health care, textiles and clothing, and financial services industries.

Infrastructure development is making a big difference to people’s lives and the economy. In the two five-year periods between 2011-12 and 2016-17, Tamil Nadu’s Gross State Domestic Product (GSDP) expanded at a Compound Annual Growth Rate (CAGR) of 7.87 per cent to US$ 207.79 billion. The Net State Domestic Product (NSDP) grew at a CAGR of 8.41 per cent to US$ 185.26 billion. To further attract major investments into the state, Tamil Nadu Industrial Guidance and Export Promotion Bureau was set up. The state has a 996:1000 female to male ratio, nearly 81 per cent literacy rate and nearly 45 per cent work participation with an estimated per capita income of Rs 62,000, in 2013-14, doubling from Rs 30,000 in 2004-05.