Indian Textile and Apparel Market Size, Share, Price, Demand, Growth, Industry Trends and Forecast 2020-2025
According to the latest report by IMARC Group, titled “Indian Textile and Apparel Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the Indian textile and apparel market size reached US$ 108 Billion in 2019. Textiles refer to the woven fabrics, yarns, or fibers with raw materials obtained from jute, polyester, cotton, or wool. India is the largest producer of jute and cotton, and the second-largest producer of silk. With the abundance of these raw materials, the textile and apparel industry has become a vital contributor to the Indian economy.
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The easy availability of raw materials, coupled with cheap labor, has lowered the cost of manufacturing textiles and apparel in India as compared to other competing countries. This represents one of the key factors driving the Indian textile and apparel market. Besides this, the rising investments by the Government of India under the Integrated Textile Parks and the Technology Upgradation Fund Scheme to train the workforce and encourage private investments in the industry are also contributing to the market growth. Furthermore, with the increasing internet penetration rate, there has been strong growth in online sales across the country, as they offer multiple discounts and easy return policies. As a result, the market is expected to experience positive growth in the coming years. Looking forward, IMARC Group expects the Indian textile and apparel market to exhibit its strong growth during the next five years 2020-2025.
Market Breakup by Raw Material:
- Natural Fibres
- Man-Made Fibres
- Clothing Textiles
- Technical Textiles
- Fashion Textiles
- Home-Decor Textiles
- Yarn
- Fabric
- Fibre
- Welspun
- Vardhman Group
- Alok Industries Limited
- Raymond Limited
- Bombay Dyeing
- Garden Silk Mills Limited
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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