According to TechSci Research report, “India Textile Market By Type (Yarn & Fiber, Processed Fabrics & Apparel), By Raw Material (Cotton, PSF, PFY, NFY, VSF, VFY, PPMFY, Others), By Product (Natural Fibers, Polyesters, Nylon, Rayon, Others), By Process (Woven, Non-woven), By Application (Household (Bedding, Kitchen, Upholstery, Towel, Others), Technical (Construction, Transportation, Medical, Protective, Others), Fashion & Clothing (Apparel, Ties & Clothing Accessories, Handbags, Others), Others), By Region, Forecast & Opportunities, FY2026”, Indian textile market is set to witness significant growth during the forecast period owing to rise in income level and increasing middle class population of the country. Rising government focus and favorable policies are expected to contribute to the growth of the textiles industry in the country. The Ministry of Textiles is encouraging investment through increasing focus on schemes such as Technology Up-gradation Fund Scheme (TUFS). In Union Budget 2020-21, the government has allocated Rs 761.90 crore (USD 102.29 million) for Amended Technology Upgradation Fund Scheme (A-TUFS). This is anticipated to drive the India textile market growth through FY2026.
Moreover, increasing production of raw cotton in the country is acting as a major support for the textile industry. The Indian government has come up with a number of export promotion policies for the textiles sector. It has also allowed 100 per cent FDI in the Indian textiles sector under the automatic route. This is expected to act as major booster for textile market growth. Also, cloth production stood at 63.34 billion square meters in FY19 (till January 2020). Additionally, thriving retail sector of the country and entry of various international players like Marks & Spencer and Guess are fueling the growth of Indian textile market.
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India textile market is segmented based on type, raw material, product, process, application and region. Based on type, the market is categorized into yarn & fiber and processed fabrics & apparel. Among them, the processed fabrics and apparel segment is anticipated to dominate the market through FY2026 owing to strong domestic demand for apparels. Further, growth in demand is expected to continue at a double digit CAGR to reach USD220 billion by FY2026.
Based on raw material, India textile market is segmented into cotton, PSF, PFY, NFY, VSF, VFY, PPMFY and others. Among them, cotton accounted for largest market share in FY2019 and is further expected to dominate the market during the forecast period. Cotton production in India reached 33.7 million bales in FY2019. It is one of the key raw material used by textile sector.
Major players operating in the India textile market include Vardhman Textiles Ltd, Sutlej Textiles & Industries Ltd (STIL), Arvind Ltd, Welspun India Ltd, Raymond Ltd , Bombay Dyeing & Manufacturing Co Ltd, Trident India Ltd, K P R Mill Ltd, Page Industries Ltd, Nitin Spinners Ltd, Rupa & Company Ltd, Himatsingka Seide Ltd, Alok Industries Ltd, Garden Silk Mills Limited and Filatex India Ltd. The market is highly fragmented with the presence of both organized and unorganized players. Manufacturers are indulged in offering traditional handloom, handicrafts, wool and silk products.
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“India’s textile market is highly dependent on agricultural sector for raw materials like cotton. This, along with the availability of highly skilled manpower, provides a huge growth opportunity for textile manufacturers. Indian textile sector is also overtaking the market share of China in the developed nations, especially in the United States and countries present in the European Union after the slowdown in Chinese economy.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Textile Market By Type (Yarn & Fiber, Processed Fabrics & Apparel), By Raw Material (Cotton, PSF, PFY, NFY, VSF, VFY, PPMFY, Others), By Product (Natural Fibers, Polyesters, Nylon, Rayon, Others), By Process (Woven, Non-woven), By Application (Household (Bedding, Kitchen, Upholstery, Towel, Others), Technical (Construction, Transportation, Medical, Protective, Others), Fashion & Clothing (Apparel, Ties & Clothing Accessories, Handbags, Others), Others), By Region, Forecast & Opportunities, FY2026” has evaluated the future growth potential of India textile market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India textile market.
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