The textile and apparel industry in India, which was approximately worth US $ 151.2 billion in 2021, is expected to reach US $ 344.1 billion by 2027. It is exhibiting a CAGR of 14.8 per cent during 2022-2027.
IMARC Group’s latest research report, titled “Indian Textile and Apparel Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027” claims so.
Though the market is passing through the unprecedented challenge of high raw material price, sentiments are high.
Continuously increasing export orders as well as growing demand in domestic markets are major reasons for the market’s growth.
The Government is also supporting the industry with many schemes like PLI, MITRA, ATUFS and is focused on skill development.
Technical textiles and home furnishing are two major segments of textile industry, which have grown well in recent years and are also expected to perform better in future.
Many companies across the supply chain are in the process to expand, while few have already expanded their capacities.
Apparel Resources has covered many such interesting articles and news about Indian textile and apparel industry growth. Given below are two such recent links.
Source : https://in.apparelresources.com/