Industry Leaders Call for ‘Brands for Billions’ to Drive India’s Next Retail Revolution
India’s fashion and retail industry is entering a new phase of growth, fuelled by rising consumer aspirations, digital adoption and an expanding middle class. Industry leaders believe the next wave of success will be led by brands capable of serving India’s diverse consumer base while building globally competitive businesses. These insights emerged during the panel discussion, “Brands for a Billion: The Great Indian Retail Revolution,” jointly organised by the Clothing Manufacturers Association of India (CMAI) and the Confederation of Indian Textile Industry (CITI) at Bharat Tex 2026.
The session brought together leading voices from the fashion and retail sectors, including Rahul Mehta (CMAI), P. Venkatesalu (Trent Ltd.), Siddharth Bindra (Biba Apparels), Rajesh Jain (Lacoste India), Nikhil Upadhye (Benetton India), Gautam Saraogi (Go Colors), Sidhant Keshwani (Libas), Maya Pradeep (Haute Couture), Shweta Agarwal (Tradyl) and Harminder Sahni (Wazir Advisors). The discussion explored the future of India’s branded apparel market, changing consumer behaviour, omnichannel retail, premiumisation and the strategies needed to build globally recognised Indian fashion brands.
Setting the context, Rahul Mehta, Chief Mentor, CMAI, noted that India’s apparel industry is at a defining moment. With the domestic fashion market valued at nearly USD 98 billion, he highlighted the significant growth potential that remains due to relatively low per capita branded apparel consumption. According to him, increasing incomes, evolving lifestyles and rising aspirations are creating favourable conditions for organised fashion retail to expand further.
Discussing changing consumer behaviour, P. Venkatesalu, CEO & Managing Director, Trent Ltd., observed that today’s shoppers are seeking trend-driven fashion, greater convenience and wider product choices. He added that digital access has narrowed the gap between metro and non-metro markets, with consumers across Tier II, III and IV cities becoming equally aware of global fashion trends and expecting better quality and value.
Speaking on the retail landscape, Gautam Saraogi, Founder & CEO, Go Colors, said consumers are increasingly willing to travel for better shopping experiences, encouraging retailers to invest in larger experiential stores that enhance customer engagement while improving business economics.
Offering the perspective of a digital-first brand, Sidhant Keshwani, Founder & CEO, Libas, stated that the future of fashion retail lies in integrating online and offline channels. While e-commerce and quick commerce will continue to cater to convenience-led purchases, physical stores will remain essential for product discovery, wider assortments and immersive brand experiences.
Siddharth Bindra, Managing Director, Biba, emphasised the importance of maintaining a brand’s core identity while scaling operations. He noted that although Indian ethnic wear continues to evolve with changing consumer preferences, brands must remain consistent in their value proposition.
“The opportunity is massive, but the challenge is to stay relevant without losing who you are as a brand.”
Highlighting the importance of authenticity, Nikhil Upadhye, Managing Director, Benetton India, said that staying true to a brand’s original purpose and values remains fundamental to building enduring businesses.
Sharing his perspective on premium fashion, Rajesh Jain, Managing Director & CEO, Lacoste India, observed that India’s premium consumer segment is expanding rapidly. He stressed that brands aspiring to global scale will ultimately need a strong international presence, adding that Indian entrepreneurs today have the confidence and capability to compete with global fashion leaders.
From an international branding perspective, Maya Pradeep, Founder & Creative Director, Haute Couture, pointed out that a new generation of Indian entrepreneurs is increasingly focusing on quality, sustainability, transparency and digital engagement, positioning Indian brands to build credibility in international markets.
Adding a market strategy viewpoint, Shweta Agarwal, Founder & CEO, Tradyl, explained that India should be viewed as a collection of diverse consumer markets rather than a single homogeneous one. She noted that brands capable of understanding regional preferences and developing differentiated consumer propositions would be better positioned for long-term growth.
Providing a broader industry outlook, Harminder Sahni, Founder & Managing Director, Wazir Advisors, said India’s branded apparel sector remains significantly underpenetrated compared to developed economies, offering considerable room for expansion. He added that increasing formalisation, consolidation, operational excellence, supply chain efficiency and innovation will become key competitive differentiators over the coming decade.
Summing up the discussion, the panellists agreed that Indian fashion companies must adopt a global mindset rather than viewing themselves primarily as exporters. They concluded that the country’s next retail revolution will be driven by brands that combine consumer insight, innovation, omnichannel capabilities and international ambition. With a rapidly evolving retail ecosystem and a large domestic market, India is well positioned to develop multiple homegrown “Brands for Billions” capable of competing successfully on the global stage.
