📷 Image Credits: Mint
In the world of international brands, a significant shift is occurring towards India, as affirmed by Anand Mahindra, chairman of Mahindra Group. In response to a New York Times article titled ‘Is India the future of international brands?’, Mahindra tweeted, ‘The answer to the question in your headline is Yes…’ This shift is exemplified by the case of Melissa & Doug, an American toy brand. For years, the company relied on Chinese factories for production, but disruptions caused by the Covid-19 pandemic and trade tensions led them to rethink their strategy. In February 2021, Melissa & Doug explored alternative manufacturing options and found a factory in Greater Noida, India, owned by Sunlord. To their surprise, the Indian factory was able to produce high-quality wooden toys at competitive prices. As a result, their collaboration has expanded, with Sunlord now producing 25,000 items per month for the American toy giant. This move reflects a broader trend of diversifying supply chains away from China for greater resilience and cost management. With India offering strategic policy implementations, favorable demographics, and a strong digital infrastructure, it is emerging as an attractive investment destination. The surge in foreign direct investment flows further supports this trend. Indian youth’s prowess, coupled with advancements in technology, makes the country an ideal location for global brands to shift operations. The growth and recognition of the Indian fashion industry on the global stage also showcase the country’s potential as a hub for international brands. With a blend of tradition and modernity, Indian designers like Rahul Mishra and Amit Aggarwal are gaining international acclaim and bringing the essence of India to runways worldwide. The Fashion Design Council of India plays a pivotal role in nurturing talent and promoting India’s rich fashion heritage on a global scale. The burgeoning haute couture sector in India, valued at billions of dollars, reflects the industry’s growth and potential. The future of global clothing brands may very well be centered in India, a country rich in culture and heritage, offering a unique blend of tradition and innovation.
