The textiles and clothing value added in India exhibited fluctuations over the past years. From 2013 to 2023, the value started at 9.23, experiencing slight declines, and eventually reached 9.08 in 2023. The most notable annual variations include a significant decline in 2014 and a positive rebound in 2018. The 5-year CAGR from 2018 to 2023 suggests a slight annual decrease of 0.34%.
Future projections from 2024 to 2028 indicate a continued downward trend, with forecasts showing an average annual decrease (CAGR) of 0.73%. Watch for these future trends:
- Changes in global trade policies impacting export demand.
- Technological advancements in textile manufacturing.
- Impact of sustainable and eco-friendly practices on production costs and market demand.
- Domestic economic policies influencing industrial growth.
