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Technopak Consultants, one of India's top management consulting firms, recently hosted its second Technopak Textile and Garment Industry Leadership Forum in Mumbai on September 2. The event brought together over 150 industry leaders from the textile and apparel sectors, along with representatives from the Ministry of Textiles, to discuss key challenges, opportunities, and future trends in the sector.
The forum focused on a range of critical topics, including strategic management frameworks, market growth expectations in both domestic and international markets, and potential pathways for sustainable development. Participants also engaged in discussions about the major challenges currently facing the textile and garment industry, such as supply chain disruptions, shifting consumer preferences, and the need for innovation.
In line with the event, Technopak released a comprehensive research report forecasting significant growth in the textile and apparel sector. According to the report, the women’s clothing market is growing at an impressive annual rate of 12%, outpacing the 9% growth rate of men’s wear. By 2020, the women’s segment is expected to account for 43% of the total market, up from the current 37%.
India’s domestic textile and apparel market is projected to grow at a compound annual growth rate (CAGR) of 11%, reaching a value of Rs 6,56,000 crore by 2020. Among the fastest-growing categories are women’s casual wear, undergarments, sportswear, children’s clothing, western-style women’s fashion, oversized clothing, uniforms, technical textiles, and home textiles.
One of the key highlights of this year’s forum was the release of Technopak’s latest research outline, which identified several emerging trends. Notably, while men’s wear currently holds 43% of the market share, the women’s segment is growing at a much faster pace, driven by changing consumer behaviors and increasing demand for diverse styles. Additionally, the children’s clothing market is also showing strong momentum, with girls’ clothing growing at 11% and boys’ wear at 10%.
Overall, the forum provided valuable insights into the evolving landscape of India’s textile and garment industry, highlighting the importance of adaptability, innovation, and strategic planning for long-term success.
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