When in India, a busy Indian market more specifically, what would you expect to see? Most probably, a handloom shop displaying the yards of intricacy that have historical value. On the other hand, you could also witness sheer elegance radiating through Westernised boutiques all around. To your left, a future bride could be trying on her dream bridal lehenga. In contrast to your right where another girl could be choosing between her next favourite athleisure. Amidst all of this, your phone buzzes. It is a social media notification as an Influencer is going live to showcase different ways to style a single piece of clothing.

Welcome to the world of fashion in today’s India, where traditional meets modern and classic meets trend.

Just like the country, its fashion is also diverse, coming from different cultures, technological advancements and changing trends and preferences. Because of this, even homegrown and local designers and brands have risen internationally.

The Current Statistics of the Fashion Industry

The current statistics of the fashion industry in India are based on various factors, discussed further in detail.

Expanding Consumer Pool

Owing to its own size, India has a big consumer base when it comes to fashion, which is ever-expanding. In 2023, the Indian fast fashion market size was valued at USD 9.90 billion, and is expected to reach USD 28.84 by the year 2030. Fast fashion, i.e., the trendy clothes that quickly move from ramp to the public, has seen an increased demand among Indian consumers. It is because of increased western influence, disposable income, convenience and increasing young population. 

The fashion industry mainly comprises of:

• Apparel
• Footwear
• Accessories

Apparel forms the largest portion, about 80%, of all. It is expected to grow at the rate of 3.35% per annum through the years 2024 and 2029. The Indian wardrobe is witnessing a change like it has never witnessed before. Be it a casual fit or a whole festive look, there is something for everyone. Even the men’s wardrobe now has variety as opposed to the same boring outfit for all occasions.

With a keen focus on matching everything, the footwear market has seen a parallel increase. From sneaky shoes to edgy heels, the market is filled with variety. 

And, the look isn’t complete without the adding that extra bling. Accessories amp up an outfit and so the demand in this sector has also increased dramatically.

Consumer Behaviour

The Indian consumers have become very fast-forward. The West and social media have greatly impacted the youngsters, particularly Gen-Z and the millennials. As a result, they have become very active in going with what’s new and trending. This shift has also affected the Indian fashion market, which has seen a dramatic surge. From luxury to sustainability, and athleisure to ethnic, all the sectors have gained immense popularity, resulting in a simultaneous increase in demand. Brands that offer eco-friendly options get preference. 

The Rise of E-commerce

India has seen a huge rise in e-commerce, especially after Covid. This has resulted in an increased access to fashion, including International brands. Today we live in a totally different India compared to just a few years ago. Now, everyone possesses a smartphone, has access to the internet, is knowledgeable of fashion trends and their availability on e-commerce. Shopping has become more convenient than ever. On top of that, platforms like Myntra, Ajio, and Amazon offer the Indian consumers what they love even more than shopping- huge price drops! This makes these platforms even more attractive. 

Eco-Friendliness

India, like other parts of the world, is becoming environment-friendly. There is a growing awareness about sustainability. Whether by choosing to car-pool or checking a clothing’s label for eco-friendliness, people are making conscious choices. In such a scenario, brands understand their consumers’ stance and the ones that offer sustainable clothing naturally drive more sales. Using organic cotton and recycled fabrics are top priorities.

Thrifting is another shopping trend now-a-days. This is pre-owned, or as the youngsters say, pre-loved clothing made available at affordable prices. It ensures less wastage and more usage.

Wrapping Up India’s Fashion Forwardness

Fashion is always evolving and India is keeping up well with the evolution. From staying up-to-date with the latest fashion trends to consciously choosing sustainable clothing, we are on par with the rest of the fashionable world. On the flip side of the coin, brands too are putting their best foot forward to keep up with the trends and changing user preferences. With the diversity that exists in the country, it is interesting to see a vast industry like fashion prospering here.

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