Strong Domestic Consumption Playing an Important Role in an ever-growing Indian Textile Industry

The Indian textile market is expected to exhibit a rapid CAGR during the forecast period (2020-2026). The driving factors for the Indian textile market include strong domestic consumption, strong export demand, rise in consumerism and higher disposable incomes, and entry of several foreign players including Guess, Next, and Marks & Spencer.  

Browse the full report Description Indian Textile Market Size, Share & Trends Analysis Report by Material (Cotton, Jute, Silk, Synthetic, Wool, and Others), by Application (Fashion and Clothing, Industrial/Technical, and Household) Forecast Period (2020-2026) at https://www.omrglobal.com/industry-reports/indian-textile-market 

However, the onset of the COVID-19 crisis and its aftermath will result, among other things, stagnant, if any, growth, in both textile exports and imports. According to EMIS Insights, the exports and imports of all textile categories will grow at rates below 1% over the forecast period FY2020 to FY2024. On 17 March 2020, the Confederation of Indian Textile Industry (CITI) called on the government to adopt measures targeting labor-intensive textile businesses such as the extension of soft loans, and a moratorium on the repayment of principal and interest on loans for four quarters. 

In the southern parts of India, the summer season started in February, but was brought to a sudden halt with the pan-India coronavirus related lockdown, announced on 24 March 2020. As of August 2020, it is unclear how long the pandemic will last, and definite estimates of the prospects for the Indian textile industry are hard to make. It can be expected that textile companies will be cash-strapped after the crisis and orders will take time to return to pre-COVID-19 volumes. Supply chains with China, regarding both exports and imports, have also been interrupted and will take time to resume.

Market Coverage

• The market number available for – 2019-2026
• Base year- 2019
• Forecast period- 2020-2026
• Segment Covered- by Material and Application
• Country Covered- India
• Competitive Landscape – Arvind Mills, Lakshmi Mills Company, Reliance Textiles, Vardhman Textiles Limited, and Welspun India

Key questions addressed by the report

• What is the market growth rate?
• Which segment/region dominates the market in the base year?
• Which segment/region will project the fastest growth in the market?
• How COVID-19 impacted the market?

o Recovery Timeline

o Deviation from the pre-COVID forecast

o Most affected region/segment

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Indian Textile Market Report Segment

By Material

• Cotton
• Jute
• Silk
• Synthetic
• Wool
• Others

By Application

• Fashion and Clothing
• Industrial/Technical
• Household