INDIAN GARMENT INDUSTRY AT A GLANCE IN 2022 - 2023
India is among the top garment-manufacturing countries in the world. The Indian textile and apparel industry boasts of a wide range of segments ranging from products of traditional handloom, handicrafts, wool, and silk products to the organized textile industry in India.
India's exports of textiles and apparel at US$ 36.45 billion in FY23. India’s textile and apparel market size is growing at a CAGR of 12% from US$ 152 billion in 2021 to reach US$ 225 billion by 2025. The industry is one of the biggest contributors to the economy with a 2% contribution to the gross domestic product (GDP) which is approx. US$ 70 billion. It is also the second largest employer after agriculture, providing direct employment to 45 million people and 100 million people in the allied sector. Andhra Pradesh, Telangana, Haryana, Jharkhand and Gujarat are the top textile and clothing manufacturing states in India.
Garment ExportsIndia is the fifth largest exporter of textiles and apparel products in the world During the last fiscal, the share of textile, apparel and handicrafts in India’s total exports was 11.4% while India’s share of the global trade in textiles and apparel stood at 4%. In FY23, exports of ready-made garments stood at US$ 14.75 billion showing a growth of 21.4% over 2022.
Cotton textile exports are a major contributor with a 39% share of total exports of the textiles and apparel industry while ready-made garments, man-made textiles and handicrafts contributed 36%, 14% and 5% of the total exports for the sector respectively.
During 2022, USA was the top export destination for the textile and apparel industry, accounting for a 27% share of overall exports.
The domestic apparel & textile industry in India contributed to 2.3% to the country’s GDP, 7% of industry output in value terms
Technical TextilesIndia is the 5th largest producer of technical textiles in the whole world with a market size of nearly $24.3 billion, which is to grow up to $300 billion by 2047.
Industry ScenarioIndia’s exports of readymade garment (RMG) of all textiles increased by 1.10 per cent to $16,191.47 million in fiscal 2022-23. RMG exports were noted at $16,014.84 million in the same period of the previous year. India's readymade garment exports to surpass USD 30 billion by 2027.
