India Textile Market size was valued at USD 240.8 Billion in 2024 and is expected to reach USD 475.7 Billion by 2033, at a CAGR of 6.84% during the forecast period 2024 – 2033.
India Textile Market: Overview
Textiles encompass a broad range of woven or non-woven materials utilized in various applications such as clothing, upholstery, and technical uses. These materials, derived from natural and synthetic fibers like cotton, wool, polyester, and nylon, constitute a vital component of the global textile market, which continues to expand, driven by increasing demand for clothing and the proliferation of online shopping platforms.
The market dynamics are influenced by several factors. Among the primary drivers is India’s burgeoning population coupled with rising disposable incomes. With over 1.3 billion people, India presents a vast consumer base for textiles. The steady increase in per capita income, as evidenced by the rise to USD 1615.55 in FY 2020-21, further propels the demand for clothing and textiles.
Additionally, proactive government initiatives such as ‘Make in India’ and the ‘National Textile Policy’ bolster domestic manufacturing, exports, and investments in the sector. The government’s allocation of USD 1.6 Billion for the textile sector in the Union Budget 2021-22 underscores its commitment to fostering growth and innovation.
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However, the industry faces certain challenges that impede its full potential. Infrastructure deficiencies, including inadequate transportation networks and outdated manufacturing facilities, contribute to operational inefficiencies and increased production costs.
According to the Confederation of Indian Textile Industry (CITI), these bottlenecks escalate production costs by up to 15-20%, diminishing the competitiveness of Indian textiles globally. Moreover, the industry’s fragmented structure, characterized by numerous small-scale and unorganized players alongside larger corporations, poses challenges in production, distribution, and marketing.
Limited access to finance, outdated technology, and regulatory difficulties further compound the issues faced by small-scale producers, affecting the overall reputation of Indian textiles in international markets.
Amidst challenges, several opportunities emerge for the Indian textile industry. Increasing awareness of environmental sustainability prompts a shift towards eco-friendly textiles. Consumer demand for organic cotton and recycled materials presents a promising market segment for manufacturers. Similarly, the rapid growth of e-commerce platforms offers new avenues for market expansion.
Leveraging digital channels enables textile companies to reach a broader audience, enhance customer engagement, and improve the shopping experience, capitalizing on India’s burgeoning digital economy, which is projected to reach USD 1 trillion by 2025.
CMI has comprehensively analyzed India Textile market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict in depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this India Textile industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players which were studied and analyzed extensively concerning their strengths, weaknesses as well and value addition prospects. In addition, the Report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships, and emerging business models.
List of the prominent players in the India Textile Market:
- Arvind Limited
- Vardhman Textiles Ltd.
- Welspun India Ltd.
- Reliance Industries Limited (Textiles)
- Aditya Birla Group (Textiles)
- Raymond Ltd.
- Siyaram Silk Mills Ltd.
- Bombay Dyeing and Manufacturing Company Ltd.
- The Lakshmi Mills Company Ltd.
- Grasim Industries Ltd.
- Sutlej Textiles and Industries Ltd.
- JCT Ltd.
- Mafatlal Industries Ltd.
- Morarjee Textiles Ltd.
- Century Textiles and Industries Ltd.
- Oswal Woolen Mills Ltd.
- KPR Mill Limited
- Trident Limited
- Nahar Spinning Mills Ltd.
- Nitin Spinners Ltd.
- Others
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