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India's apparel retail market poised to reach Rs 16 lakh crore by FY 2030
The Sunday Guardian
|January 18, 2026
India’s apparel retail market is set for a significant expansion over the next five years, with industry size projected to touch nearly Rs 16 lakh crore by 2029-30, driven by rising disposable incomes, rapid digitalisation and strong growth in value fashion and e-commerce, according to a CareEdge Ratings report.
The apparel market, estimated at Rs 9.30 lakh crore in 2024-25, has grown at a compound annual growth rate (CAGR) of around 7 per cent since 2017-18.
Organised retail currently accounts for approximately 41 per cent of the total market and is expected to grow at a faster pace of 10-13%, supported by increasing consumer preference for branded apparel, the entry of international brands and the expansion of structured retail formats.
A key driver of growth is the value fashion segment, which is benefiting from rising brand awareness and consumer price sensitivity.
This story is from the January 18, 2026 edition of The Sunday Guardian.
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