Indian apparel market to hit ₹16 lakh crore by 2029-30

India's apparel retail market is projected to reach nearly ₹16 lakh crore by 2029-30 from ₹9.30 lakh crore in 2024-25, CareEdge Ratings said. Growth will be driven by rising incomes, digital adoption and value fashion. Organised retail and e-commerce are expanding rapidly, while favourable GST changes are expected to boost demand in the affordable segment.