Indian Textile Journal Presents India’s Top 50 Textile Companies in 2025

Amid global market turbulence in 2024–25 — driven by subdued activity in advanced economies, persistent geopolitical tensions, and intensifying tariff measures — many Indian textile enterprises delivered a strong performance in FY25. The Indian Textile Journal (ITJ) presents its annual “Top 50 Indian Textile Companies” list, recognising the leaders driving growth and innovation in the textile and apparel industry.

The global textile and apparel (T&A) industry in FY2024–25 navigated through a volatile yet transformative phase. The period was marked by recalibrating economic growth, evolving trade alignments, and a decisive push toward sustainability. Against this complex backdrop, India’s textile and apparel sector demonstrated remarkable resilience — reaffirming its position as one of the world’s most dynamic and diversified manufacturing ecosystems.

India’s T&A industry: A core economic engine

India remains the second-largest producer of textiles and garments and the sixth-largest exporter globally. The industry contributes 2.3 per cent to national GDP, 13–14 per cent to industrial output, and about 12 per cent to India’s export earnings, while providing direct employment to more than 45 million people and livelihood support to an additional 100 million in allied sectors. In FY2024–25, India’s textile and apparel exports stood at $ 35.9 billion, commanding 4.6 per cent of global trade and ranking behind China, Vietnam, and Bangladesh.

Domestically, the Indian T&A market was valued at $ 175 billion in FY2024, with 79 per cent accounted for by domestic consumption and 21 per cent by exports. The domestic market, which has grown at a CAGR of 8 per cent since FY2011, is projected to reach $ 250 billion by FY2031. Government policy support, demographic advantage, and a strong raw-material base continue to underpin this growth.

Highlighted below are performances of some the key sectors:

Cotton textiles: The cotton textile industry experienced moderate growth during the year. Stable cotton prices for most of the fiscal period brought predictability to input costs. However, a sharp decline in output — to 29.14 million bales from an earlier estimate of 31.5 million bales — led to firming prices toward the end of FY25. The government launched a Rs 600 crore five-year Cotton Mission aimed at improving productivity and promoting sustainable, high-quality cotton, especially extra-long staple (ELS) varieties. With stable domestic demand and a rebound in exports expected, the cotton yarn segment is projected to record higher revenue growth in FY2025–26, up from 2–4 per cent in FY25.

MMF and technical textiles: The man-made fibre (MMF) and technical textiles segment continued to expand, supported by policy incentives and growing application diversity. India currently ranks fifth globally in technical textiles, with applications spanning healthcare, construction, automotive, and defense. Government focus under the Production-Linked Incentive (PLI) Scheme and the PM-MITRA Mega Textile Parks is catalysing large-scale manufacturing in high-value segments. The Ministry of Textiles received a 19 per cent higher budget allocation in FY2025–26 — Rs 5,272 crore — reaffirming the government’s intent to strengthen infrastructure, encourage investment, and accelerate innovation in man-made and technical textiles. India’s emergence as a major manufacturer of PPE and industrial textiles highlights its capability to scale value-added segments with global relevance.

Apparel and garments: The apparel sector remained one of the most dynamic components of India’s T&A industry. With the organised retail apparel market expanding at 8–10 per cent in FY25, the segment benefited from a normal monsoon, easing inflation, and robust festive and wedding demand. Growing fashion consciousness, urbanisation, and the rise of online retail helped the sector reach an estimated market value of $ 222 billion. India is the fourth-largest fashion market globally, and its apparel exports are projected to reach $ 65 billion by FY2026, on course toward the government’s $ 100 billion export target by FY2030. Private labels and in-house retail brands gained traction, offering affordable, trend-driven products to consumers while improving retailer margins.

Denim: Denim continued to anchor India’s casualwear and export categories. Valued at $ 1.14 billion in 2024, the domestic denim market is projected to grow to $ 1.83 billion by 2033, expanding at a CAGR of 5.04 per cent. Rising youth consumption, the penetration of e-commerce, and the fusion of denim with ethnic and athleisure styles sustained demand across geographies. India’s global competitiveness in denim manufacturing — built on cost efficiency, a diverse product mix, and growing sustainability credentials — positions it as a preferred sourcing base amid regional shifts in South Asia.

Yarn and fabric: The yarn and fabric segment recorded moderate but steady growth, with improved margins supported by stable raw-material prices and a rebound in downstream demand. Polyester yarn production grew at a CAGR of 4–5 per cent, maintaining a balanced demand-supply position. Advances in digital printing and processing technologies helped manufacturers deliver shorter lead times and higher customization capabilities.

Home textiles: Home textiles sustained their strong performance in FY25, with the domestic market estimated at $ 10 billion and expected to expand at ~7 per cent CAGR to $ 16 billion by FY2031. Demand was driven by increased home renovation and lifestyle spending, particularly in post-pandemic urban households. Export recovery in the US and EU markets further aided this segment.

Key growth drivers for Indian T&A industry included:

• Government policy support: Continued thrust through schemes such as PLI, PM-MITRA parks, and the Technology Upgradation Fund has strengthened infrastructure and improved competitiveness. The focus on ease of doing business, FTAs, and export diversification has opened new markets.
• Domestic consumption momentum: Rising disposable incomes, a growing middle class, and digital retail penetration have spurred domestic demand for apparel and home textiles across urban and semi-urban India.
• Technological upgradation: Automation, AI-based manufacturing, and digital printing are improving productivity, reducing waste, and aligning India with Industry 4.0 standards. Investments in circular fashion, upcycling, and sustainable processing are redefining operations.
• Sustainability and circular economy: Eco-friendly fibers, recycling technologies, and green manufacturing practices are gaining momentum. India’s positioning as a global hub for sustainable textiles is being reinforced through both industry and policy alignment.
• Trade and global shifts: Political instability in competing regions like Bangladesh and favorable FTAs with the UK and EU are diverting sourcing orders to India. Enhanced compliance and traceability systems are also increasing buyer confidence.

Transformation through sustainability and innovation

FY25 marked a turning point where sustainability became mainstream. From renewable-energy adoption to waterless dyeing and zero-liquid-discharge systems, manufacturers increasingly aligned operations with global ESG benchmarks. Circular fashion gained visibility, with upcycling and waste-to-wear initiatives spreading across value chains.

The integration of artificial intelligence, IoT, and automation in textile recycling, quality inspection, and production planning enhanced efficiency and reduced defects. Digital fabric printing and 3D design technologies shortened time-to-market cycles, while consumer demand shifted toward ethically sourced, transparent supply chains.

Government initiatives — including proposed tariff reductions on raw materials and machinery — are likely to attract greater foreign investment into sustainable manufacturing. As a result, India’s textile ecosystem is rapidly evolving from a volume-driven model to a value-driven, technology-enabled platform.

The Ministry of Textiles aims to double India’s textile and apparel exports to $ 65 billion by FY2026 and raise the domestic market to $ 350 billion by 2030, potentially doubling the sector’s GDP contribution from 2.3 per cent to about 5 per cent within the decade.

Winners overcoming challenges

FY2024–25 was a defining year for India’s textile and apparel industry — one that balanced headwinds with resilience. While global trade friction, cost inflation, and compliance challenges tested the sector, India leveraged its diverse raw-material base, skilled workforce, and policy support to stay on course.

Despite its progress, the industry faced multiple headwinds during the year:

• Tariff and non-tariff barriers: Escalating global trade tensions led to new tariff regimes and protectionist measures, impacting India’s export competitiveness and complicating supply-chain planning.
• Supply-chain inefficiencies: Fragmented logistics, delays in raw-material procurement, and inconsistent quality standards continue to constrain efficiency, particularly for smaller manufacturers.
• Raw-material volatility: Fluctuating prices of cotton, polyester, and energy raised production costs. The late-season cotton shortage exemplified the vulnerability to climatic and global supply disruptions.
• High operational costs: Energy, transport, and finance costs remained elevated, eroding margins, especially for SMEs.
• Compliance and sustainability Costs: As global buyers tighten ESG and traceability requirements, Indian producers are compelled to invest continuously in cleaner technologies and reporting systems.
• Technological gaps: Domestic manufacturing of advanced weaving and processing machinery remains limited, leading to dependence on expensive imports.

Nevertheless, many Indian textile enterprises delivered strong financial results in FY25, supported by prudent cost management, export diversification, and integration of digital processes. Improved consumer sentiment and a stable rupee also cushioned the sector’s profitability.

In this highly volatile and competitive market, The Indian Textile Journal (ITJ) continues its annual initiative of spotlighting the trailblazers of India’s textile and apparel (T&A) industry through its signature feature, “Top 50 Indian Textile Companies” in FY25. This exercise reflects our commitment to recognising companies that have demonstrated resilience, agility, and strategic foresight in navigating the ever-changing business environment. The selection is conducted through a transparent, system-oriented, and process-based approach that combines data-driven analysis with sectoral insight.

The selection process

Over the past two years, India’s textile sector has battled multiple headwinds — from sluggish sales growth and margin pressure to rising debt burdens and global demand uncertainty. Despite these challenges, several companies have managed to maintain growth momentum through operational efficiency, innovation, and cost discipline.

To reflect these realities, this year’s ranking emphasises sales and net profit growth — two indicators that best capture a company’s ability to sustain demand and generate value. Sales performance reveals market traction, while profitability indicates operational strength and financial prudence.

Data from the last three financial years — FY23, FY24, and FY25 — has been analysed to assess growth across two intervals: FY23-FY24 and FY24–FY25. Both sales and profit have been given equal weightage (50 per cent), with higher emphasis on the latest year’s performance to ensure relevancy. Composite scores were calculated by multiplying ranks with assigned weights, and companies were ordered by total scores — the lowest composite score indicating the strongest performer.

Through this robust process, ITJ has identified the top-performing organisations that stand out for consistency, leadership, and adaptability.

Categorisation for fair comparison

To enable meaningful comparison, companies were classified into two categories based on FY25 revenue:

• Large Category: Annual revenue exceeding Rs 500 crore
• Small Category: Annual revenue below Rs 500 crore

Each list highlights the Top 25 companies that have excelled within their respective segments.

India’s Top 50 Textile Companies in FY25

The ranking system accounts for varying business contexts. Some companies may feature on the list despite moderate growth in one parameter due to the weighted scoring structure. Entities yet to declare March 2025 results or those that opted out of participation were excluded. Additionally, diversified groups deriving significant income from non-core or non-textile operations were removed to maintain sectoral focus.

The resulting “Top 50 Indian Textile Companies” list reflects a holistic picture of India’s textile ecosystem — one that balances scale with sustainability, growth with governance, and ambition with accountability. It showcases enterprises that continue to power India’s global competitiveness while upholding the values of innovation, quality, and resilience.

Some of the companies featured in the “Top 50 Indian Textile Companies” list include Raj Rayon Industries, Kitex Garments, Mafatlal Industries, Cantabil Retail, Nitin Spinners, Nandan Denim, Go Fashion, Garware Technical Fibres, Dollar Industries, Indo Count Industries, Welspun Living, Lux Industries, Gokaldas Exports, Rupa & Company, Page Industries, Pearl Global Industries, Sportking India, Nahar Spinning Mills, Donear Industries, Faze Three, DCM Nouvelle, AYM Syntex, Winsome Textile Industries, Kewal Kiran Clothing, Active Clothing, Suditi Industries, VIP Clothing, Lambodhara Textiles, Filatex Fashions, and PDS Ltd among others.

READ the complete story of “India’s 50 Top Textile Companies in 2025” in ITJ’s November 2025. To Book Your ITJ Copy CLICK HERE