Two decades ago, stylish interiors or beautiful interiors were on the minds of only a few homeowners. Most houses had limited supplies of bedding and sheets, which were washed and reused over and over again. Home textiles and furnishings were mainly seen on the market only during festivals.
Now, thanks to the increasing number of households, the growth of Indian retail, the increase in disposable income, the growth of the housing, hospitality and healthcare sectors along with increasing consumerism, we are witnessing a change in the Indian middle class lifestyle. People now, especially young working couples, spend a considerable amount on interiors to give a modern and modern look to their homes. All these factors have increased the demand for home textile products by 30-40% annually.
Additionally, with e-commerce giants adding household segments to their websites, home furnishings and textiles have become even more attractive to the public. Whether it’s curtains or ready-made home textiles, the entire shopping process has become simple. A growing demand for high-quality home furnishings can be clearly seen on e-commerce websites around the world.
India in particular is home to some of the largest manufacturers of home textiles, including Welspun (third largest producer of towels), Dicitex (fifth largest producer of furniture fabrics) and Trident (largest manufacturer of terry towels) . Also, various Indian brands like Spread, Birla Century, Super Net, ABN, etc. are recognized globally and are growing at a healthy rate. Even some of the international brands such as UCB, Espirit Home and many others have seen a growth rate of 20-30% in the Indian home textiles market.
The home textile industry in India is varied in terms of prices, colors, design, and even consumers. There are those who prefer international brands without price restrictions, while there are consumers who are looking for a large volume at reasonable prices. Today, a consumer is becoming very conscious of the environment, safety and hygiene and therefore the demand for features like stain resistant, fragrance and flame retardant in home textiles has increased exponentially.
In 2014, India’s share of home textiles globally was 11%, suggesting strong growth potential. Indian textile companies get some favorable advantages in the growing world market. These include the huge availability of inexpensive cotton, cheap labor, promising government policies, and the current trend of depreciation of the Indian rupee against foreign currency. All of these factors have supported the potential of Indian textile players to reach great heights in the segment.
