The India Fashion Retail Market reached a size of USD 3.19 Billion in 2024. It is forecasted to grow at a CAGR of 6.82% during 2025-2033, reaching USD 5.78 Billion by 2033. The market expansion is driven by increasing disposable incomes, rapid urbanization, and a young, fashion-conscious population, alongside rising internet penetration and smartphone use boosting online shopping. The report presents a thorough review featuring the India Fashion Retail Market Forecast, share, trends, and research of the industry.
STUDY ASSUMPTION YEARS
- Base Year: 2024
- Historical Year/Period: 2019-2024
- Forecast Year/Period: 2025-2033
INDIA FASHION RETAIL MARKET KEY TAKEAWAYS
- Current Market Size: USD 3.19 Billion in 2024
- CAGR: 6.82%
- Forecast Period: 2025-2033
- The market growth is propelled by rising disposable incomes and a young, fashion-aware demographic.
- Increasing internet penetration and smartphone usage are significantly boosting online shopping.
- Sustainability and ethical practices are gaining traction in consumer preferences.
- Government initiatives like "Make in India" and the rise of D2C brands further support market expansion.
- Expanding e-commerce and digital marketing are critical factors enabling market growth.
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MARKET TRENDS
The India fashion retail market is experiencing a notable rise in sustainable and ethical fashion. Millennials and Gen Z are increasingly aware of environmental and social impacts, driving demand for eco-friendly materials like organic cotton, recycled fabrics, and biodegradable dyes. Transparent supply chains and fair-trade practices are becoming common, while local designers create innovative sustainable garment lines. Government initiatives such as "Make in India" reinforce sustainability, with events like Bharat Tex 2025 showcasing India’s handloom and handicraft sectors.
Online fashion retail growth is fueled by enhanced internet penetration, with India’s e-commerce market reaching USD 107.7 Billion in 2024, projected to grow to USD 650.4 Billion by 2033 at a CAGR of 19.70%. D2C brands targeting niche segments with bespoke consumer experiences are gaining popularity, supported by digital and social media marketing, virtual try-ons, easier returns, and cash-on-delivery options.
The pandemic accelerated digital adoption, shifting consumer preference toward contactless shopping. Influencer marketing and social commerce are catalyzing further growth of online fashion retail. This channel has become a major pillar of the overall fashion retail market, expanding access and convenience for consumers.
MARKET GROWTH FACTORS
Market growth is strongly driven by rising disposable incomes and rapid urbanization in India. A young, fashion-conscious population with evolving preferences is increasingly able to access and afford fashion products, fueling demand across segments.
The surge in online retail and e-commerce platforms enhances market growth. The widespread use of smartphones and internet access enables easier shopping experiences, supporting fashion retail expansion through digital and social media marketing channels.
Government support through initiatives like "Make in India" and the promotion of handloom and handicrafts further stimulate market development. Collaboration with entities like the Ministry of Textiles and UNESCO fosters sustainable practices and integrates traditional craftsmanship in the global fashion retail market.
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MARKET SEGMENTATION
Product Type Insights:
- Apparel: Includes garments across various styles and brands suitable for diverse consumers.
- Footwear: Comprises all types of shoes, sandals, and related products designed for fashion and comfort.
- Bags: Covers a range of bags such as handbags, backpacks, and totes matching fashion trends.
- Others: Encompasses other fashion retail products not classified above.
Price Insights:
- Premium/Luxury: High-end fashion products targeting affluent consumers seeking exclusivity.
- Mid-Range: Products priced moderately to appeal to the broad middle-class segment.
- Mass Market: Affordable fashion items catering to the largest consumer base.
Distribution Channel Insights:
- Online: E-commerce platforms enabling digital sales and consumer convenience.
- Offline: Traditional brick-and-mortar retail stores offering in-person shopping experiences.
Regional Insights:
- North India: Key market region with significant consumer presence.
- South India: Important regional market for fashion retail.
- East India: Emerging fashion retail market within India.
- West India: Established market contributing to overall retail sales.
REGIONAL INSIGHTS
The report does not specify a dominant region with quantitative statistics regarding market share or CAGR by region. Therefore, regional data specific to market dominance or numerical insights is not provided in the source.
RECENT DEVELOPMENTS & NEWS
On March 19, 2025, Mashroo expanded its retail presence with five new stores in Mumbai and Hyderabad, increasing its total to nine locations. The new stores are in high-profile areas like Mohammad Ali Road and Mira Road (Mumbai), and Abids (Hyderabad), aligning with the brand’s focus on culturally aligned, modern fashion.
On August 23, 2024, UK-based ASOS launched in India through Reliance Retail’s AJIO platform, initially offering over 3,000 products with plans to expand to 20,000 within a year. The launch features collections such as ASOS Design, ASOS Luxe, and Miss Selfridge, targeting younger, trend-focused Indian consumers and strengthening AJIO's position in the fashion retail market.
KEY PLAYERS
- Mashroo
- ASOS (in partnership with Reliance Retail’s AJIO)
Note: The report provides detailed profiles of major companies but lists no further company names explicitly on the source page.
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