Indian fashion market is set to touch $102 billion by 2022. India has emerged as one of the world's fastest-growing fashion markets over the past few years. It is projected to grow at 15 per cent CAGR till 2022 and become a $102 billion market as per a recent report.
Mobile platforms are expected to influence more than two-thirds of both apparel and fashion accessories purchases by 2022 in India. India's apparel market will be worth $59.3 billion in 2022, making it the sixth largest in the world, comparable to the United Kingdom's ($65 billion) and Germany's ($63.1 billion), according to data from McKinsey's FashionScope. The appetite for Western fashion styles is likely to increase, but traditional fashion is still expected to account for a 65 percent market share by 2023.