Domestic Textile Demand expanded to ₹14.95
lakh crore with changing consumer trends
¨
Domestic Textile Demand
expanded to ₹14.95 lakh crore with changing consumer trends.
¨ A significant expansion
in domestic textile demand to ₹14.95 lakh crore was reported through a
comprehensive national survey released by Giriraj Singh.
¨
The report titled “Market
for Textiles & Clothing: National Household Survey 2024” was prepared by
the Textiles Committee to analyse consumption trends and market size.
¨
The market size was noted
to have grown from ₹4.89 lakh crore in 2010 to ₹14.95 lakh crore in 2024,
registering a CAGR of 8.3%.
¨
A major contribution was
made by household consumption, which increased from ₹4.18 lakh crore in 2010 to
₹8.77 lakh crore in 2024.
¨
The domestic segment
alone was valued at ₹12.02 lakh crore, indicating strong internal demand across
the country.
¨ A rise in per capita
expenditure from ₹2,119 in 2010 to ₹6,066 in 2024 was recorded, reflecting
higher incomes and evolving lifestyles.
¨ A shift towards man-made
fibre and blended products was observed, which accounted for 52.2% of the
market, while cotton contributed 41.2%.
¨ The demand for MMF and
blended textiles increased from ₹1.47 lakh crore to ₹4.47 lakh crore, while
cotton demand rose to ₹3.53 lakh crore.
¨ Women were identified as
the primary consumers, accounting for 55.5% of purchases compared to 44.5% by
men.
