Fast fashion is a term used to describe clothing collections that are based on the most recent fashion trends. The fast fashion collections are generally adaption from current high fashion luxury trend. The main advantage of the fast fashion system is its very nature, a fast-response system and that encourages disposability. This is a concept dominated by consumption, fast-changing trends, and low quality; leading consumers buy more clothes because they are affordable but discard these after only one season [1]. The fast fashion companies thrive on fast prototyping, numerous designs, rapid delivery and also the delivered materials are floor ready with a price tag to sell [2], in contrary to the old turnaround time, which will usually take six
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The fast fashion cycle made the companies to work on up to the minute design and made the customers to refresh their wardrobes very often. Since, the consumer spending increased by fast fashion, the consequences increases the production which in turn maximizes the impact on the environment. A study conducted by McKensey & company revealed that the environmental impact of the clothing manufacturing companies will increase 80% in 2025, if the fast fashion trend continues and the world market consumes to the same western per capita level consumption [6].. The Figure 2 shows the environmental footprint of the apparel industry in terms of land, water and CO2 emission …show more content…
The industry is the second largest employer after agriculture, providing employment to over 45 million people directly and 60 million people indirectly [9]. The Indian Textile Industry contributes approximately 5 per cent to India’s Gross Domestic Product (GDP), and 14 per cent to overall Index of Industrial Production. At the same time, exports are implied to increase to US$ 185 billion from approximately US$ 41 billion currently [9]. The Indian textile industry is the second largest manufacturer and exporter in the word next to china. India has a share of 5% of the global trade in textile and apparel. Out of the total Indian exports 15% share belongs to textile and apparel in year 2015-16, compared to 13.6% in the year of 2014-15. The total textile and apparel export during 2016-17 (Upto april 2017) is valued 18.7 billion USD, with a share of 14% in India’s total export of 132 billion USD during the same period
The fast fashion cycle made the companies to work on up to the minute design and made the customers to refresh their wardrobes very often. Since, the consumer spending increased by fast fashion, the consequences increases the production which in turn maximizes the impact on the environment. A study conducted by McKensey & company revealed that the environmental impact of the clothing manufacturing companies will increase 80% in 2025, if the fast fashion trend continues and the world market consumes to the same western per capita level consumption [6].. The Figure 2 shows the environmental footprint of the apparel industry in terms of land, water and CO2 emission …show more content…
The industry is the second largest employer after agriculture, providing employment to over 45 million people directly and 60 million people indirectly [9]. The Indian Textile Industry contributes approximately 5 per cent to India’s Gross Domestic Product (GDP), and 14 per cent to overall Index of Industrial Production. At the same time, exports are implied to increase to US$ 185 billion from approximately US$ 41 billion currently [9]. The Indian textile industry is the second largest manufacturer and exporter in the word next to china. India has a share of 5% of the global trade in textile and apparel. Out of the total Indian exports 15% share belongs to textile and apparel in year 2015-16, compared to 13.6% in the year of 2014-15. The total textile and apparel export during 2016-17 (Upto april 2017) is valued 18.7 billion USD, with a share of 14% in India’s total export of 132 billion USD during the same period