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As per a study conducted by the Textiles Committee under the Ministry of Textiles, the domestic demand for textiles has experienced a robust growth during last 15 years. The market size of textiles has increased from Rs 4.89 lakh crores in 2010 to Rs 14.95 lakh crores in 2024 experiencing a Compound Annual Growth Rate (CAGR) growth of 8.3%. Out of total market size, the contribution of household has increased from Rs 4.18 lakh crores in 2010 to Rs 8.77 lakh crores in 2024 and played a pivotal role in driving the domestic demand of textiles in the country. At the same time, the per capita demand increased from Rs 2,119 in 2010 to Rs 6,066 in 2024 experiencing a CAGR growth of 7.8%, reflecting a strong growth trajectory. The estimates show a robust growth in per capita demand in textiles by the individuals during the same period. Man Made Fibre (MMF) & blended fiber-based products are contributing 52.2%, followed by 41.2% by cotton-based products. On the other hand, Silk and Woollen fiber-based products are contributing 5.2% and 1.3% respectively to the product basket. In absolute terms, the demand for MMF & blended textiles recorded most significant growth, with demand increasing from Rs 1.47 lakh crores to Rs 4.47 lakh crores, with a CAGR of 8.28%. Cotton maintained its position as the second most important fiber, with aggregate demand increasing from Rs 0.87 lakh crores to Rs 3 .53 lakh crores with a CAGR of 10.53%. The demand for Silk and Wool based products increased at CAGR of 8.93% and 7.02% respectively during same period.
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