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.