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Textile & Fashion: Digitisation is a journey

Textile & Fashion: Digitisation is a journey

it holds a promise of weaving a future full of promise that far outweighs any considerations delivering both innovations and honors its rich heritage.

Indian textile & fashion industry has a colourful background and heritage on the back of a dynamic and vibrant culture the nation is proud of.

Today we are on the cusp of technological disruption capable of game-changing transformation marrying with the threads of tradition to coexist and get the best industry of the two worlds.

The turnaround story of historic sectors is well backed by hardwired reimagination undergoing the space experiencing a rebirth leading to a complete renaissance.

The best part of the happy journey of merging tradition with modernity embracing cutting-edge technology, new age manufacturing practices, adopting best practices the evolving production ecosystem has to offer, and redefining famed craftsmanship is all at play to take sector productivity and capability notches above aligning with aspirations of a consumer of the day.

Additionally, strategic planning is crucial to navigating the intricacies of integration and ensuring best practices and process integrations.

The digital transition is impacting almost every industry and (T&F) sectors are no strangers to it the need to protect investments in this side of a business cannot be underestimated.

For a fashion brand, digitization means re-imagining how shopping in a digital world should play out, rather than merely digitizing the shopping process for a physical world.

McKinsey's earlier conducted study states," Amid the pandemic, the Textile, fashion, and luxury industry has moved quickly to address urgent consumer needs on the back of business enterprises digitizing".

It is an intriguing tale of two cities wherein the rhythmic symphony of conventional timeless looms is now amalgamating harmonically the pupil-dilating tech advancements of cutting-edge automation, modernization, and high-tech robotization to incredibly amazing GenAI sweeping the textiles & fashion industry coasts globally day in day out basis.

Again the smart factories, micro-factories of the day empowered by Industry 4.0 and aptly powered by the Internet of Things (IoT) in use cases like Digital dyeing among many others play out or wait to tap into huge hidden opportunities revamping production and productivity enhancement and supercharge efficiency.

It is pretty intriguing to break the designing piece of any business enterprise; what is passé is a phase of bulky drawing boards is over in turn turning tables and heads on today's designers getting on the top of the designing by toolkits like the magic of Computer-Aided Design (CAD) and 3D modeling software is delightful.

The good spin is that digital wizardry streamlines product development, slashing waste and ensuring perfect fits doing the greatest good.

The virtual world ushers in a boundless canvas for innovation and experimentation is a revelation.

There is a degree of opaqueness in the textile and fashion sectors (T&F) fast embracing openness with blockchain technology in the supply chains to clear the air.

The ear where the thesis of traceability and transparency of the supply chains is a serious issue given evolving consumers are getting more interested in gathering fundamentals of the buying journey, where to buy, how much to buy, and why not to buy an irresponsible produced and sourced merchandise tracking the origin of their clothing fostering ethical practices, guarantees authenticity, and empowers informed buying decisions.

Customer piece is front and center in today's buyer market and @ retail space, here toolkits like AI can create incredibly personalized experiences as customer lives individualistic lifestyles in the evolving consumer landscape raising the need for greater and continuous customer interaction based on trade insights.

One has to underpin the growing importance attached to the power of algorithms analyzing consumer preferences, choices, likes dislikes, evolving buying habits, and aspirations indicating, forecasting and pre-empting customers' behavior to curate brand offerings and value propositions to go right in their effort of crafting better product-market fit especially when a consumer is settled with multi-channel buying and shopping and will be value-accretive.

The phenomenon facilitates the brands and retailers to help virtual stores transform into a personalized haven where everything is handpicked just for you given the online shopping premium and the eminence globally it enjoys.

Philosophically the future of digitization per se is bright given that it is an outlier in many sectors that help survive, revive, and thrive post-adoption. But it has its own set of challenges and hurdles which is a brainer.

Considering the multiple economic headwinds and the challenges the sector is posed with facing the traditional & not so much forward-looking entrepreneur mindsets.

Technically speaking trade needs to stay rightly invested in technology and not be typically capital-shy, which far outweighs any argument at any level of incipient investment costs.

Causality effect

Digitization as a journey can blow away any detractor or pessimist in the textile & fashion industry (T&F) and the digital transition is in a good place greatly impacting almost every industry. Effective data or business management are just two aspects of this transition; cost savings and improved productivity.

Investments in India's textile and fashion industry are a net positive impetus beating expectations and catapulting space to the next level.

Initiatives like digital skill development programs are envisaged to make the space more aspirational meeting the expectations of the chunk going into labour-force both at the mass and high-skilled jobs and role standpoint.

Again, there is a need for a kicker called R.U.N. (reskilling, upskilling, and new skilling) at this juncture than ever before to develop and harness the necessary skill sets to stay with the curve of technology.

Digitalization is shaping the textile & fashion (T&F) industries' sustainability efforts of making green projects enjoy a competitive edge in securing funds and investment thesis.

The piece also follows the ethos of sustainability and responsible delivery of goods and services as envisioned by sustainable manufacturing practices advocates but also champions the growing concern around the environmental impact these heavily polluting sectors have on our mother planet.

The elevated investments in a progressive segment/hubs enjoy early mover advantage in the stream of designing and product development where imaginative and incredible innovations are mind-blowing and industries are in the transit phase as one has seen.

Sparking a digital revolution driving the fashion landscape realize these investments not only reshape & revitalize economic growth but also nurture creativity, sustainability, and global competitiveness.

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