A research report has informed that the textile & apparel (T&A) industry of the country may go up to Rs. 10.32 lakh crore ($220 billion) in near future. There has been a research done by Technopak Advisors on this industry of India.

Technopak Advisors is a leading management consultancy of the country. It has said that the future of the textile & apparel is very bright. The industry is of worth Rs. 3.27 lakh crore ($70 billion) at the current period of time.

The firm anticipates that by 2020, the industry may go up to $220 billion. In the year 2009, the same industry was of worth Rs. 2.18 lakh crore ($4 billion).

More interestingly, the industry is growing at a compounded annual growth rate (CAGR) of 11% per year. The expected figure includes the domestic and export requirements.

The firm has also informed that the domestic apparel retail market of the country is expected to touch Rs. 4.70 lakh crore by the year 2020 which was recorded Rs. 1.54 lakh crore($33 billion) in the year 2009.