Indian textile industry is one of the biggest employing industry estimating employment opportunities of 45 million people nationwide. With a long stretch from farming to selling the apparel to customers, the industry contributes GDP of 2.3 percent as recorded by the National Accounts Statistics (2016-2017).
Textile wholesale segment is a much diversified sector because it involves several stages for final productions. The mix involves farming, cutting, dying, weaving, stitching, embroidery etc. These are initiated at wholesale segment and carried forward to the Textile Retail Segment. Textile retail segment is one of the fastest running segments as you will find door to door outlets all over India, as India is the most popular textile hub globally.
Expectations Of Customers From Textile Industry
Nowadays, consumers are becoming more knowledgeable in terms of textiles and clothing. E-commerce market and the TV world has given people clothing goals. Considering this, you will find two types of people in the market. Firstly, there are people who shop directly from the readymade clothing stores. Secondly, you will find people who love to create their own designs. Hence, they end up at textile stores where they can do the match and mismatch of clothing.
Consumer’s thus expect a lot of things from the textile industry for several reasons. One of the core expectation is how organic and natural the fabric is, in terms of comfort. The textile world is quite diverse, especially in India. Now people can compromise on the price when they are more inclined towards quality. This has increased pressure on the textile industry as the quality highly matters. For instance, cotton, lycra, rayon etc. are being more popular today because of its level of comfort.
Another aspect is the colors and patterns obtained for a beautifully designed fabric. Plain colors, block print, screen print, embroidery and a lot more, the textiles offer all, considering consumer choices. Cities like Jaipur, Bikaner, Surat etc. are accordingly secluded varying with the textile obtained here. Popular fashion designer Sabyasachi too stated “his Crore worthy apparels are designed over textiles especially bought from a small retailer in Jaipur”. Climatic conditions and habitat make India diverse in terms of textile varieties. This has also led to increased consumer demand because premium quality lies right in the country.
Most Popular Textile Retail Segment In India
Cotton is the most commonly bought textile for both wholesale and retail segments. It is prominently known for its versatility for being shirts, t shirts, kurtas, shorts and what not. The cotton and cotton blend textile retail segment also allows most innovations and designer ideas. Famous brands such as Beyoung prominently deals in apparels made in cotton because of the unbeatable comfort.
Rise In Textile Retail Segment In India
The textile retail segment in India is growing immensely. The scenario is estimated as $103.4 billion in 2020-21. It is further expected to take a rise to $ 190 billion by 2025-26.
Cotton consumption across India is estimated to be $75 billion which is further segmented according to customer usage. $55 billion is used by people for making apparels at both wholesale and retail segments. $15 billion is used for technical textile consumption and an amount of $5 billion is dedicated to home furnishings. This cotton production is also used more for exports all across the world.
Consumers today are expecting better fabrics which can cope up with the weather and provide utmost comfort. The textile retail segment is sticking to it to the fullest and has thus experienced immense growth. According to reports, textile industry has valued exports worth $1297.82 billion by August 2021 and is expected to rise by 55.62% over years.
Growth rate of textile retail segment expected a growth of 8.7 percent from fiscal year 2015 to 2020, which is expected to increase rapidly.
Authored by –
Shivam Soni, Founder & CEO, Beyoung.in
