The Indian apparel industry is built on a robust historical foundation that dates back to the Harappan civilization, nearly 4000 years back. There are early traces of exports through the silk route via China to western countries.
Riding on a rich heritage of cotton textile manufacturing and exporting, the industry saw a booming period after the first textile mill was founded in Calcutta in 1818. However, major industrial growth took place in Bombay and Ahmedabad from 1850 onwards.
Cut to the modern era, the industry proudly employs 4.5 crore workers, out of which over 35 lakhs are engaged in the handloom industry. The textile and apparel industry in India was valued at approximately $103 billion as of 2020-21 and is expected to cross the $190 billion mark by 2025.
Factors Contributing To The Growth Of The Indian Textile Juggernaut
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An abundance of raw materials: India is the largest producer of cotton and jute in the world. There’s also massive production of synthetic fibre that is used by the
fashion apparel manufacturers in the country.
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Overall manufacturing cost: The combination of labour, power, lending, and water costs are competitive compared to other countries.
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Robust infrastructure
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A large pool of skilled workers
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Huge domestic market
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Favourable government policies
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Major export tie-ups with over 40 countries worldwide
Customized garments have become a notable fashion as well as corporate identity statement in India. Catchy captions, personalised photographs, company logos, and more on t-shirts, caps, etc are capturing the imagination of young India.
The global market for custom apparel is estimated to grow by $1.13 billion between 2020-25 at a CAGR of close to 6%. The leading markets are China, India, North & South America, Europe, and MEA with APAC accounting for 41% of the estimated growth.
With such huge business potential, it’s not a surprise that more and more national as well as international players are striving to get on to the bandwagon. The Indian textile industry has multiple nuances that require meticulous navigation. Industry Experts (https://www.industryexperts.co.in/) have the required market knowledge and seasoned consultants to handhold you on the journey to enter the market, both as a manufacturer and buyer of world-class finished products.