• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

New Delhi, July 27 With the fastest high networth individuals population in the world and income level of consumers expected to triple by 2025, India is poised to become a manufacturing hub for global luxury brands in the next four to five years, according to a FICCI-Yes Bank report.

The report, to be released along with the launch of the FICCI lifestyle Forum in New Delhi on Monday, points that in view of the core strengths in India’s manufacturing sector, the manufacture of luxury items in India could grow to $ 500 million.

This optimism stems from the fact that global brands such as Louis Vuitton and Frette are already looking at India as a manufacturing base for their products, while others are sourcing their requirements from India.

The report suggests initiatives like corporatisation of the luxury, forming a standardisation and branding/packaging organisation which can provide a seal of approval for all the luxury goods produced in India and forming partnership with international fashion/luxury councils or association or trade organisation to encourage, promote and facilitate cooperation in the high-end luxury market. The Indian tariff structure also needs to be streamlined. India has one of the highest duties/taxes on imported luxury goods, which drive the grey market and duty free purchases.

More Stories on : Marketing Research | Textiles | Industry Associations | Lifestyle

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Titan announces exchange offer

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line