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No wonder Fashion Design Council of India (FDCI)'s executive director
Vinod Kaul is excited as he sees a ray of hope in "bringing about
more transparency and investment" into the fashion industry.
A non-profit body, FDCI organises an annual fashion extravaganza called
the India Fashion Week in Delhi or Mumbai,
"Small Industries Development Bank of India or SIDBI (a government-backed
financial institution primarily active in the small-scale industries
sector) has agreed to form a corpus that can be tapped by small
and struggling fashion designers," Kaul told indiantelevision.com
on the sidelines of the on-going Lakme India Fashion Week (LIFW)
in Delhi.
The corpus may be small, Rs 500 million, compared to similar initiatives
for other industries, but Kaul is hopeful that it would pave the
way for "corporatisation of the industry, which is becoming
a necessity." FDCI would be signing a memorandum of understanding
with SIDBI in a month's time.
 For
an average person, seeing shapely models of both sexes sashay down
the ramp in beautiful clothes --- at times sporting next to nothing
--- may look like something exotic, but most do not get to see the
sweat and hard labour behind the glitz because even the fashion
channels show only glamorous behind-the-scene activities. And, in
a country like India it is more so as marketing becomes increasingly
difficult for most, apart for the top few.
"That's why FDCI is pushing for the corporatisation of the
industry and individual designers," Kaul said, adding India
has the designers, but don't have adequate investments and a big
enough developed market for sustenance.
Some fashion designers like Rohit Bal (for his prêt label)
and Raghvedra Rathore have corporatised and have professionals running
their companies, but Kaul feels that they are more of an exception
than a norm.
"In the West, you have big companies run professionally. Some
of them are even listed on the stock exchanges. In India, if we
manage to acquire even a little of that professionalism, the industry
, still in its nascent stage, would start to prosper faster,"
Kaul said.
Another area that FDCI is looking at tapping, taking a leaf out
of the semi-organised entertainment industry, is to attract venture
capitalists to the fashion industry
 All
these proposed initiatives are based on certain assumptions and
convictions --- also validated by KPMG in a study of the fashion
industry done for FDCI.
According to the KPMG study, the designer wear fashion industry
in India estimated to grow to Rs 10 billion by 2010 from Rs 2,000
million at present. But the designer fashion segment is still a
small pie of the overall apparel industry (including the organized
and unorganized sector) that is currently estimated to be worth
about Rs 300 billion.
Meanwhile, this year's LIFW would see 57 fashion designers participating.
But not everybody would get a chance to exhibit his/her creations
at fashion shows (five shows held daily) as there is not enough
time. About 45 would get a chance to hold shows, while others would
have to be contend with having a stall at the exhibition area earmarked
for the purpose at Hotel Grand, which seems to have been taken over
by LIFW activities.
Apart from the regulars like Rohit Bal, Rina Dhaka, Rathore, there
are several first timers too. LIFW event is managed by IMG.
FDCI, which has emerged as an apex body of fashion industry, was
formed to represent the interests of fashion designers, nurture
the growth of the industry, help develop the needs of the industry,
and provide a platform for Indian fashion designers.
The Indian fashion industry, in international terms, is embryonic.
Expansion and awareness of the industry in India has leapt multifold
in the last ten or twelve years of its existence. As the opportunities
for designers grow and develop so will the need for such a council
in India.
As a cohesive body, the FDCI will work towards promoting the interests
of India as a country, and market the individual designers, creating
a support for the fashion industry to enter mainstream fashion.
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