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"As we approach the Union Budget 2025, I am optimistic about the government’s continued focus on empowering the retail and fashion industry, a sector that not only contributes significantly to the economy but also reflects the aspirations of millions of Indians. With the Indian apparel market poised to grow at a CAGR of over 10% and expected to reach $100 billion by 2030, it is imperative to provide the right fiscal and policy support to sustain this momentum.

Key areas of focus should include reducing GST rates on fashion and apparel to enhance affordability for consumers, especially in the ethnic and fusion wear segments that cater to a wide demographic. Currently, GST rates at 12% or 18% on apparel over ?1,000 act as a constraint for many brands, particularly those targeting Tier 2 and Tier 3 markets, where price sensitivity is high. A reduction in GST could accelerate demand and unlock significant growth potential across these regions.

Additionally, the industry would benefit immensely from incentives for D2C brands to establish offline footprints, particularly in underserved markets. As Fashor plans to open 100 exclusive brand outlets (EBOs) in the next few years, we look forward to policies that support infrastructure development and reduce operational costs, such as rent subsidies or interest rate concessions for retail-focused businesses.

On the manufacturing side, the budget could consider enhanced Production Linked Incentives (PLI) for apparel and textile sectors, emphasizing sustainability. Globally, consumers are gravitating toward eco-conscious fashion, and providing support for green manufacturing practices would enable Indian brands to compete on an international scale.

Lastly, digital transformation remains the backbone of modern retail. A push for greater investments in logistics and e-commerce infrastructure, coupled with incentives for technology adoption, can help brands like ours expand our omnichannel presence and improve customer experiences.

At Fashor, we’re committed to empowering the modern Indian woman through affordable, stylish fashion. We hope the budget sets the stage for a more inclusive and competitive retail landscape, enabling Indian brands to thrive both domestically and globally.

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