fashion industry vs rag trade

fashion industry and rag trade both are nouns.

Word	Noun	Adjective	Verb	Adverb
fashion industry	Yes	No	No	No
rag trade	Yes	No	No	No

As nouns, fashion industry and rag trade are synonyms defined as:

fashion industry and rag trade: makers and sellers of fashionable clothing

Other synonyms of fashion industry include apparel industry, fashion business, garment industry.

fashion industry (noun)	rag trade (noun)
makers and sellers of fashionable clothing	makers and sellers of fashionable clothing