Contents:

INDUSTRY OVERVIEW Supplier summary Export value Products & prices Production & export statistics Price guides Supplier survey Export prices Export sales Export markets Major challenges R&D focus SUPPLIER PROFILES Supplier matrix Raw materials & exports Supplier profi les PRODUCT GALLERY Top-selling export products SUPPLIER CONTACT DETAILS

Summary:

In this Report: - 18 in-depth company profi les - 9 short company profi les - 159 top-selling export products - Supplier demographics - Supplier survey - Industry statistics and charts India is world-renowned for exquisitely designed fashion accessories that are available in a variety of modern and traditional styles. Most models feature a distinct flavor that is unique to the country. The industry constitutes roughly 6,000 enterprises that offer jewelry, fashion bags, wallets, head and neckwear, and belts. Companies benefit from a plentiful supply of raw materials that are sourced from numerous cities and states nationwide. This key advantage has propelled India to become a leading manufacturing hub for different types of fashion accessories. The wide array of materials include different types of beads, semiprecious stones and metal for jewelry, leather, canvas and jute for bags and wallets, and cotton, silk, wool and linen for neckwear. The industry is highly exportoriented, with more than 80 percent of output being sent to foreign markets. Jewelry prevails as the most important product line, accounting for almost 60 percent of total exports. Bags and wallets capture almost a quarter of overseas shipments. There are currently a number of challenges confronting the industry. The most crucial of these is the volatile rupee-dollar exchange rate, which has had erratic fluctuations since the start of 2008. As a result, makers have been posting quotes with a shorter validity period. They also prefer to accept payment in euros since this currency has seen relative stability over the same period. The following are some of the key trends we see in India’s fashion accessories industry: - Suppliers have a rosy outlook for the year ahead as long-time buyers from traditional markets and new customers from emerging export destinations are expected to reinvigorate demand. With this on the horizon, the overwhelming majority of makers anticipate exports to increase significantly. In fact, close to half of suppliers profiled in this report see revenue surging by at least 20 percent. - About half of interviewed makers indicated they will maintain prices over the next six months in an effort to keep old customers and draw new ones. - Manufacturers will continue to emphasize the US and the EU. An increasing number of companies, however, are expected to shift focus to new markets in South and Central America. - Suppliers are divided on product design trends. One-third of featured makers will highlight basic colors and simple designs, while an equal number will concentrate on vibrant colors and styles. This report covers different types of fashion accessories produced in India, including earrings, necklaces, rings, bangles, bracelets, handbags, shoulder bags, wallets, purses, shawls, scarves, bandannas, and men’s and women’s belts. The Products & Prices section details the features and price ranges of each key product category. It also includes the latest trends in style and materials. The Industry Overview discusses key issues affecting exporters and elaborates on the composition of the industry, highlighting key characteristics of different types of suppliers. The majority of garment suppliers in India are locally owned, with a few publicly listed companies. Most have at least a decade of experience, with some having been in business since the 1970s. Production is concentrated in Delhi, as well as the states of Rajasthan, West Bengal and Uttar Pradesh. Most featured suppliers are also based in these locations.

Methodology

This India Sourcing Report is part of a series designed to provide buyers with information on new products from export manufacturers in supply markets that specialize in handmade merchandise. The Developing Country Sourcing Report series is part of the author's corporate social responsibility initiatives. It is offered in conjunction with The Kearny Alliance, whose mission is Aid Through Trade. The objective is to help create jobs in developing Asia through export promotion. To produce this report, larger, midsized and emerging manufacturers—all with substantial export experience—were surveyed. The selection of suppliers is designed to reflect the composition of the industry in India in terms of geographic location, materials used and range of products offered. For in-depth profiles, our researchers visited the facilities of each company and interviewed senior executives who discussed their recent performance and provided forecasts for the next 12 months. All other companies in this report were either visited or contacted by phone. In each case, companies were required to answer specific questions designed to verify their manufacturing and export credentials, including a breakdown of exports by product type and market. Suppliers also participated in a survey designed to provide insight into the industry.