New Delhi, 20 June (IANS). The Indian apparel sector is estimated to increase from CAGR of 11 percent during FY 2024-29.
According to HSBC Global Investment Research, India’s apparel sector has increased by 11 percent CAGR during FY 2020-24, in line with the growth of nominal GDP and private final consumption expenditure (PFCE).
16 percent of CAGRs have been observed during FY 2012-24 in the branded segment due to increasing reach and strength.
Moving forward, in various apparel sub-segments, active costumes in non-formal costumes (25 percent of CAGR in FY 2024-29 is inspired by the practice of casual wear after CAGR Corona) and organized price retail (16 percent of CAGR in FY 24-29, 16 percent of CAGR in 24-29, the greatest beneficiary of unorganized changes).
The report states that the apparel, however, remains a competitive market disrupted by e-commerce, foreign brands and changing fashion cycles.
“We believe the format model has benefits due to better control over its customer base and their supply chains. Also, the formats are better to navigate rising risks in the apparel field.”
Value fashion format has been preferred in the report in view of retail opportunity size and limited disruption from e-commerce.
Meanwhile, India’s textiles and apparel exports record a 7.45 percent increase in April 2025 as compared to the same month of the previous year.
The analysis of data released by the Ministry of Commerce has shown that the positive trend was mainly inspired by the strong performance of the apparel segment, which recorded a strong growth of 14.43 percent on an annual basis.
Indian textile exports during April 2025 were around 2.61 percent higher than the same month of the previous year, while apparel exports recorded a 14.43 percent increase during this month and touched a $ 1.37 billion mark compared to $ 1.2 billion in April last year.
-IANS
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