'Siyaram Silk Mills shared a presentation addressing the state of textile market of India.

Currently, India’s fashion industry is valued at Rs 84,860 crore while the expected market by FY31 is Rs 4,24,300 crores. In 2024, fast fashion grew by 30–40%, much faster than the overall fashion industry which grew by just 6%. With 50% of India’s population under 25 years, the country offers strong growth potential for fast fashion, driven by a young and trend-conscious consumer base.

Ethinc wear industry is projected to grow at a CAGR of 7%. As of now, Indian ethnic wear market is Rs 2.4 lakh crore and is estimated to reach Rs 3.3 lakh crores by FY29. Men’s ethnic wear contributes 10% to the overall ethnic wear industry. Key growth drivers include rising demand for ethnic wear during multi-day wedding celebration, higher disposable income and a shift from unorganized to branded players creating strong opportunities for organized brands.

The company’s DEVO caters to ethnic ...

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