India’s Textile Market Triples in 14 Years, Touches ₹14.95 Lakh Crore with Strong MMF Demand
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Market Size Sees Robust Expansion Since 2010
India’s textile and apparel sector continues to demonstrate strong domestic growth, with the market expanding from ₹4.89 lakh crore in 2010 to ₹14.95 lakh crore in 2024, registering a healthy CAGR of 8.3%. According to a survey released by the Ministry of Textiles, this growth reflects rising consumer demand, changing fashion preferences and increasing affordability of textile products. The report, released by Union Textiles Minister Giriraj Singh, highlights the growing importance of domestic consumption as a major growth driver for the industry. Household consumption has doubled during this period, supported by increasing disposable incomes and urbanisation.
Key market growth highlights include:
- Market growth from ₹4.89 lakh crore (2010) to ₹14.95 lakh crore (2024)
- CAGR growth of 8.3%
- Rising domestic consumption demand
- Strong increase in per capita textile spending
- Growing interest in sustainable and technical textiles
- Expanding role of organised retail
Man-Made Fibres Lead While Cotton Retains Strong Base
One of the most important structural changes highlighted in the report is the growing dominance of Man-made fibres (MMF) and blended textiles. These products now account for more than half of total consumption, reflecting a shift toward performance fabrics and affordable apparel solutions.
Fibre-wise demand contribution includes:
- MMF and blended fibres – 52.2% share
- Cotton textiles – 41.2% share
- Silk textiles – 5.2% share
- Wool textiles – 1.3% share
Demand for MMF products increased significantly from ₹1.47 lakh crore to ₹4.47 lakh crore, while cotton demand also recorded strong growth from ₹0.87 lakh crore to ₹3.53 lakh crore.
03:12 PM, Apr 07
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