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Textile, apparel markets set to double

India's apparel, home textile and technical textile segments are expected to double in size by 2023. The Indian textile and apparel market is estimated to more than double in a decade. A young population, with high disposable incomes, is driving the growth for apparel brands.

Due to increasing corporatisation of retail, the domestic market for apparel will be growing from $41 billion to $102 billion. The share of corporatised retail in apparel has increased from 14 per cent in 2008 to 19 per cent in 2013.

Textile and apparel exports too are expected to grow from $40 billion to $95 billion by 2023, taking the total size of the industry to $233 billion from $98 billion. The fashion and lifestyle market is also shifting its focus away from traditional retail channels towards alternative avenues like direct selling, home shopping, and e-tailing channels. The rapid penetration of internet-supporting devices is contributing immensely to the growth of alternative retail.

Most brands of Madura Garments, including Peter England, Louis Philippe and Allen Solly, are now aggressively pursuing younger customers by introducing a casual line of apparels. They have been focusing more on customers in their early to mid 20s.


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