Indian textile and apparel market size achieved US$ 172.3 Billion in 2022. Projections indicate a substantial growth trajectory, with the market expected to soar to US$ 387.3 Billion by 2028, reflecting a robust Compound Annual Growth Rate (CAGR) of 14.59% during the period 2023-2028, according to a report by IMARC
The Indian textile sector encompasses a wide array of materials, be it natural or synthetic fibers, while apparel comprises an extensive range of products such as shirts, pants, dresses, skirts, jackets, hats, shoes, and more, tailored for personal wear.
Key Trends in the Indian Textile and Apparel Market: Rising consumer adoption of fast fashion, driven by its affordability and trendy clothing options, is a significant factor propelling market growth in India.
Luxury brands are also contributing to the market expansion by incorporating premium fabric materials like silk and leather into their shoe, clothing, and accessory manufacturing. Moreover, the export of various fabric materials, such as silk, jute, and cotton, is providing a favorable market outlook.
Furthermore, the online presence of numerous e-commerce brands offering affordable clothing options is bolstering the market's growth in India.
The government is actively supporting the textile industry through initiatives like the Amended Technology Upgradation Fund Scheme (A-TUFS), Schemes for the development of the Power loom Sector (Power-Tex), Schemes for Technical Textiles, and Scheme for Integrated Textile Parks (SITP).
These schemes are expected to fortify the market and promote further growth in the coming years.
