India Textile Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 4.20% (2024-2032)
In India, Textile Market is experiencing robust growth, driven by increasing domestic demand, western culture, export opportunities, and government support for the sector. The market size reached US$ 141.46 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 210.22 Billion by 2032, exhibiting a growth rate (CAGR) of 4.20% during 2024-2032.
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India Textile Industry Trends and Drivers:
The Indian textile market is one of the largest in the world, which is driven by several key factors. One of the primary drivers is rising domestic demand due to the expanding middle-class population with inflating income levels of individuals. This is leading to an increase in the utilization of clothing and home textiles, particularly in urban areas. Additionally, India's large population provides a vast consumer base, ensuring a steady demand for textile products. Apart from this, governing agencies in the country are introducing schemes like the Production Linked Incentive (PLI) for textiles and the establishment of mega textile parks under the PM MITRA scheme that aim to enhance manufacturing capabilities, improve infrastructure, and attract investments. These initiatives are making India a global textile manufacturing hub. Governing authorities are also focusing on skill development and vocational training in the textile sector to ensure a steady supply of skilled labor. Another major driver is high export demand from various countries. India is one of the leading exporters of textiles and garments, benefiting from its abundant raw material supply, including cotton and silk. The country's competitive labor costs further enhance its export potential.
The growing focus on organic and sustainable textiles on account of increasing environmental concerns among individuals is offering a favorable market outlook in India. Moreover, Indian manufacturers are increasingly adopting sustainable practices, catering to eco-conscious consumers in international markets. In line with this, the rising number of e-commerce platforms are taking the textile sector to higher levels. People are increasingly preferring online shopping owing to its enhanced convenience. With the ease of internet facilities and digital transformation, both domestic and international consumers have easier access to a variety of Indian textile products. Furthermore, technological advancements in the textile sector, such as automation, artificial intelligence (AI), and smart textiles, are enhancing production efficiency and product innovation. This is helping manufacturers to meet the evolving demands of global consumers.
The India Textile Market report provides a comprehensive overview of the industry. This analysis is essential for stakeholders aiming to navigate the complexities of the market and capitalize on emerging opportunities.
India Textile Industry Segmentation:
The report has segmented the market into the following categories:
Product Insights:
- Natural Fibers
- Polyesters
- Nylon
- Others
Raw Material Insights:
- Cotton
- Chemical
- Wool
- Silk
- Others
Application Insights:
- Household
- Technical
- Fashion and Clothing
- Others
Regional Insights:
- North India
- West and Central India
- South India
- East and Northeast India
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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