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India Readymade Garments Market to Grow with a CAGR of 3.85% through 2030

The India Readymade Garments Market is vibrant and diverse, driven by fashion trends, rising disposable incomes, and increasing urbanization. It encompasses a wide range of products catering to varied consumer preferences and demographics.

 

According to TechSci Research report, “India Readymade Garments Market – By Region, Competition, Forecast & Opportunities, 2030F”, the India Readymade Garments market stood at USD 103.45 billion in 2024 and is anticipated to grow USD 129.34 billion by 2030 with a CAGR 3.85% during forecast period. The India Readymade Garments market has experienced significant growth over the past few decades, driven by a combination of demographic shifts, changing consumer preferences, and an expanding retail landscape. With a population exceeding 1.4 billion, India boasts a large and youthful demographic, creating a substantial consumer base for the apparel industry.

This market encompasses a wide range of products, including casual wear, formal wear, ethnic wear, and activewear, catering to diverse tastes and occasions. The rapid urbanization across the country has also contributed to the burgeoning demand for ready-to-wear clothing, as urban consumers increasingly favor convenience and accessibility in their shopping experiences.

 

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One of the primary factors propelling the growth of the readymade garments market in India is the rising disposable income among consumers. As economic conditions improve, more individuals have the financial means to invest in fashion and lifestyle products. This trend is particularly evident among the younger population, who are more inclined to experiment with their clothing choices and embrace global fashion trends. Consequently, brands that offer stylish, affordable, and quality garments are finding favor in the marketplace. The influence of social media and fashion influencers further amplifies this trend, with consumers often seeking clothing that aligns with the latest trends showcased online.

The Indian readymade garments market is also characterized by a rich tradition of textile production and craftsmanship, which adds a unique dimension to the industry. India is renowned for its diverse range of textiles, from cotton and silk to wool and jute, and many brands leverage this heritage to create garments that resonate with consumers. Furthermore, the popularity of ethnic wear, such as sarees, lehengas, and kurtas, remains robust, particularly during festive seasons and weddings. This segment not only reflects cultural values but also showcases the craftsmanship and artistry of local artisans, thus contributing to the market's overall appeal.

 

The India Readymade Garments market is segmented into type, material, distribution channel, regional distribution, and company.

Based on the distribution channel, the online segment is the fastest-growing sector in the India Readymade Garments market, driven by increasing internet penetration, smartphone usage, and a shift in consumer shopping habits. E-commerce platforms offer convenience, a wide range of choices, and competitive pricing, attracting a diverse consumer base, especially among tech-savvy youth. The COVID-19 pandemic further accelerated this trend, as many consumers turned to online shopping for safety and convenience. Brands are increasingly investing in digital marketing and enhancing their online presence to cater to this demand. As a result, online sales of readymade garments are expected to continue expanding rapidly in the anticipated years.

Based on region, the South region of India is emerging as the fastest-growing segment in the Readymade Garments market, fueled by rapid urbanization, rising disposable incomes, and a diverse cultural landscape that influences fashion choices. Cities like Bangalore, Hyderabad, and Chennai are witnessing increased demand for both ethnic and western wear, driven by a youthful population keen on expressing personal style. The proliferation of organized retail formats and e-commerce platforms has made fashionable clothing more accessible, further stimulating growth. Additionally, regional festivals and occasions drive sales in ethnic wear, solidifying the South's position as a key contributor to the overall expansion of the garments market.

 

Major companies operating in India Readymade Garments market are:

  • H&M Hennes & Mauritz Retail Private Limited
  • Aditya Birla Fashion and Retail Limited
  • Arvind Lifestyle Brands Limited
  • Fabindia Limited
  • Benetton India Pvt. Ltd.
  • BIBA Fashion Limited
  • Raymond Limited
  • Future Lifestyle Fashions Ltd.
  • Levi Strauss (India) Private Limited
  • Shoppers Stop Limited

 

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Government initiatives have also played a crucial role in shaping the landscape of the Indian readymade garments market. Programs such as the Production-Linked Incentive (PLI) scheme aim to promote manufacturing and attract investments in the textile sector. By offering financial incentives and facilitating easier access to technology and resources, these initiatives are designed to bolster domestic production and enhance the global competitiveness of Indian apparel. Such measures not only benefit manufacturers but also contribute to job creation and economic development within the sector,” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

India Readymade Garments Market Segmented, By Type (Kid’s Wear, Men’s Wear, Women’s Wear), By Material (Cotton, Wool, Silk, Leather, Synthetic Fibers, Others), By Distribution Channel (Online, Offline), By Region, Competition, Forecast & Opportunities, 2020-2030F”, has evaluated the future growth potential of India Readymade Garments market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the India Readymade Garments market.

 

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India Readymade Garments Market Segmented, By Type (Kid’s Wear, Men’s Wear, Women’s Wear), By Material (Cotton, Wool, Silk, Leather, Synthetic Fibers, Others), By Distribution Channel (Online, Offline), By Region, Competition, Forecast & Opportunities, 2020-2030F

Consumer Goods and Retail | Nov, 2024

The India Readymade Garments Market is vibrant and diverse, driven by fashion trends, rising disposable incomes, and increasing urbanization. It encompasses a wide range of products catering to varied consumer preferences and demographics

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