Indian Textiles and Apparel is a USD 150 billion plus industry providing direct employment to over 45 million people and accounts for 14% of India’s Industrial production. The demographic dividend, lifestyle spending, and expanding organized retailing, including e-retailing in smaller towns and rural areas, are expected to significantly boost domestic textile product demand in the long term.
With a 12% CAGR in domestic sales, the Indian textile and apparel industry is projected to grow from USD 125 billion to USD 250 billion by 2030. Exports, are expected to reach USD 100 billion, doubling India’s share in the global textile and apparel trade from the current 4%. This growth will particularly boost finished products like apparel, home furnishings, and technical textiles, driving employment and value creation in line with the Prime Minister’s “Make in India” vision. To support this, India has permitted 100% FDI through the automatic route in the textile sector. An estimated US$ 950 billion investment over the next 5-6 years will generate about 2.25 million additional jobs, significantly enhancing the sector's contribution to the economy.
Currently Indian apparel and home textile is rated as one of the key suppliers to all leading buying houses across the world. India, with its high level of compliant statutes in all garment export factories, has become an attractive sourcing destination and apparel exports. The strength of the industry lies in its production base with the wide range of fibre/yarns from cotton, Jute, Silk, Wool, Synthetic/ MMF products like Polyester, Viscos, nylon and Acrylic. India has strong domestic demand as well as high export demand. India is also taking major initiatives to strengthen its technical textiles sector. Technical textiles are a rapidly growing sub-segment of the textile sector, currently accounting for 13% of India's total textile and apparel market. With an estimated market size of USD 19 billion, technical textiles have been growing at a CAGR of 12% over the past five years.
Government schemes like Production Linked Incentive (PLI) and PM Mega Integrated Textile Region and Apparel (PM MITRA) have significantly boosted India’s textile sector in India. Factors such as population growth, rising disposable income, advancements in digital textile technologies, self-employment opportunities, women's large-scale involvement, and ongoing research and development are driving the sector to new heights.
Indian Textiles and Apparel is a USD 150 billion plus industry providing direct employment to over 45 million people and accounts for 14% of India’s Industrial production. The demographic dividend, lifestyle spending, and expanding organized retailing, including e-retailing in smaller towns and rural areas, are expected to significantly boost domestic textile product demand in the long term.
With a 12% CAGR in domestic sales, the Indian textile and apparel industry is projected to grow from USD 125 billion to USD 250 billion by 2030. Exports, are expected ...