India's domestic size jumped to Rs 14.95 lakh crore in 2024, study finds

New Delhi: The India domestic textiles market size of has increased from ₹ 4.89 lakh crores in 2010 to ₹ 14.95 lakh crores in 2024 experiencing a Compound Annual Growth Rate (CAGR) growth of 8.3% says a survey.

As per the "Market for Textiles and Clothing: National Household Survey 2024," released by the Union Minister of Textiles Shri Giriraj Singh here on Monday, the domestic demand for textiles has experienced a robust growth during last 15 years.

As per the study conducted by the Textiles Committee under the Ministry, of the total market size, the contribution of household has increased from ₹ 4.18 lakh crores in 2010 to ₹ 8.77 lakh crores in 2024 and played a pivotal role in driving the domestic demand of textiles in the country.

The per capita demand increased from ₹ 2,119 in 2010 to ₹ 6,066 in 2024 experiencing a CAGR growth of 7.8%, reflecting a strong growth trajectory. The estimates show a robust growth in per capita demand in textiles by the individuals during the same period, said a statement from the Textile Ministry.

Man Made Fibre (MMF) & blended fiber based products are contributing 52.2%, followed by 41.2% by cotton based products. On the other hand, Silk and Woollen fiber based products are contributing 5.2% and 1.3% respectively to the product basket, said the survey.

In absolute terms, the demand for MMF & blended textiles recorded most significant growth, with demand increasing from ₹1.47 lakh crores to ₹4.47 lakh crores, with a CAGR of 8.28%.

Cotton maintained its position as the second most important fiber, with aggregate demand increasing from ₹ 0.87 lakh crores to ₹3 .53 lakh crores with a CAGR of 10.53%.The demand for Silk and Wool based products increased at CAGR of 8.93% and 7.02% respectively during same period, the survey said.

Cotton based products retained its position as one of the major contributors in terms of preference patterns of consumers, the preference towards manmade fibre based products has increased substantially during the period, the statement said.

The study furthers shows that women consumers, who are the major buyers of textile products have contributed 55.5% of textile purchases as compared to 44.5% by men. Among the major demanded textiles, the products like Shirts, sarees, trousers, salwar kameez, men’s jeans, T-shirts, ladies dress material, shirting, dhoti, and banian & underwear remained the most widely demanded products in the domestic market.

At the same time Men’s jeans emerged as the fastest-growing category with a robust growth among the menswear segment, while products like leggings has emerged as important preferred products among women consumers., the survey said.