India’s apparel industry is one of the largest in the world, valued at approximately USD 100 billion domestically and contributing over USD 16 billion in annual exports, with the market projected to reach USD 190 billion by 2030. India is the world’s second largest textile and apparel exporter and a major supplier to global fast fashion and value retail brands. The organised apparel segment is growing at 10 to 12 percent annually — faster than the overall market — driven by the expansion of organised retail into tier-2 and tier-3 cities, rising brand awareness, and the explosive growth of fashion e-commerce. Madura Fashion and Lifestyle, now part of Aditya Birla Fashion and Retail, operates India’s most valuable apparel brand portfolio. Trent Limited’s Zudio has been India’s fastest-growing apparel format with 64 percent revenue growth in FY26. The India-UK Free Trade Agreement signed July 24, 2025 grants duty-free access to 99 percent of India’s apparel exports to the UK, creating new export growth opportunities. Let us have a look at the top 10 apparel companies in India for the year 2026.
1. Aditya Birla Fashion and Retail Limited (ABFRL)
Aditya Birla Fashion and Retail, the fashion retail arm of the Aditya Birla Group, is India’s largest listed fashion company operating multiple distinct fashion brands including Louis Philippe, Van Heusen, Allen Solly, and Peter England premium menswear brands under the Madura Fashion umbrella, alongside the Pantaloons value fashion retail chain, Forever 21 and selected luxury brand collaborations, and its TMRW digital-first house of brands for emerging D2C apparel labels. The company operates over 4,000 stores across India and is undergoing a strategic demerger separating the Madura Fashion premium brands from Pantaloons to unlock individual valuations. ABFRL’s combined brands serve India’s fashion consumers from premium office wear through everyday value fashion.
ABFRL serves India’s fashion consumers across the full price spectrum from premium branded menswear through Van Heusen and Louis Philippe to value family fashion through Pantaloons, and is the most brand-rich fashion company in India with a portfolio legacy built on four decades of building India’s most trusted menswear brand identities that have become the default choice for India’s office-going professional class.
2. Trent Limited (Tata Group)
Trent Limited, the Tata Group’s fashion and lifestyle retail company established in the year 1998 and the operator of Westside premium department stores and Zudio value fashion outlets, was India’s best-performing large-cap apparel stock in FY26 with 64 percent revenue growth and 12 straight quarters of more than 30 percent same-store sales growth. The Zudio format selling trendy, fashion-forward clothing priced mostly below Rs 999 has transformed India’s mass fashion retail landscape by making aspirational branded fashion affordable for India’s growing middle class in tier-2 and tier-3 cities that were previously underserved by organised fashion retail.
Trent serves India’s fashion-conscious middle class through Zudio and the premium consumer through Westside, and its extraordinary revenue growth trajectory represents the most successful execution of mass-market fast fashion for the Indian consumer in India’s apparel retail history — combining the Tata brand’s trust with fashion-forward product design at price points accessible to hundreds of millions of aspirational Indian consumers.
3. Page Industries Limited
Page Industries, incorporated in the year 1994 as a subsidiary of US-based Jockey International and one of India’s most consistent and high-quality business compounders, is the licensed manufacturer and distributor of Jockey and Speedo branded innerwear, athleisure, and swimwear in India. The company has built the dominant position in India’s premium branded innerwear segment and has expanded Jockey’s presence beyond innerwear into comfortable casualwear, active wear, and sleeping wear, leveraging the Jockey brand’s comfort positioning across a broader wardrobe. Page Industries generates revenue exceeding Rs 4,000 crore with consistently high EBITDA margins above 20 percent.
Page Industries serves India’s premium innerwear and activewear consumers with the globally trusted Jockey brand, and is one of India’s most celebrated quality compounders for investors who value consistent premium brand performance combined with manufacturing excellence and disciplined corporate governance through the Jockey International licensing relationship.
4. Raymond Limited
Raymond Limited, founded in the year 1925 and one of India’s most iconic consumer and industrial brands, is India’s largest vertically integrated branded apparel company operating from fibre to finished fashion through its Raymond Fine Fabrics, Park Avenue, ColorPlus, Parx, and Raymond Made to Measure businesses. The company is undergoing significant corporate restructuring including the demerger of its real estate business into Raymond Realty, allowing its core textile and apparel brands to be evaluated with clearer standalone financial metrics. Raymond’s premium suiting heritage spanning a century of craftsmanship represents India’s most enduring apparel brand legacy.
Raymond Limited serves India’s premium business and occasion wear consumer through its retail stores spanning over 1,500 locations and internationally through fabric exports, and its century-long brand heritage in premium suiting and tailored clothing for Indian men makes it the most historically significant and emotionally resonant apparel brand in India’s fashion history.
5. Arvind Limited
Arvind Limited, part of the Lalbhai Group and headquartered in Ahmedabad, is a global leader in denim fabric manufacturing and one of India’s most diversified textile and branded apparel companies with operations spanning from raw denim fabric through branded retail under its Tommy Hilfiger, Calvin Klein, Arrow, Flying Machine, and Unlimited brand partnerships. The company’s textile business is a direct beneficiary of the China-plus-one sourcing shift as global fashion brands move denim and woven fabric sourcing away from Chinese manufacturers, making Arvind one of India’s clearest structural beneficiaries of international supply chain diversification.
Arvind Limited serves global fashion brands with its denim and woven fabric manufacturing while serving Indian consumers through its branded retail operations spanning both international fashion brands under licence and its proprietary Flying Machine denim brand, making it the most vertically diversified Indian apparel company spanning fabric supply to consumer brand management.
6. Vedant Fashions Limited (Manyavar)
Vedant Fashions, the operator of India’s most successful ethnic wear brand Manyavar and its women’s counterpart Mohey, has built the most dominant organised ethnic wear retail brand in India serving the enormous and growing market for premium traditional Indian clothing for weddings, festivals, and cultural occasions. The company operates approximately 600 plus exclusive brand outlets across India and its market capitalisation reflects the extraordinary premiumisation happening within India’s ethnic wear segment where organised branded players are capturing share from traditional unorganised tailors and local ethnic wear shops.
Vedant Fashions serves India’s ethnic wear occasion market with its Manyavar and Mohey brand portfolio, and its leadership in India’s premium ethnic wear category — one of the most culturally rooted and emotionally significant clothing purchase occasions in India — has created one of the most defensible brand positions in India’s apparel market given how deeply Indian consumers associate the Manyavar brand with important life celebrations.
7. Bata India Limited
Bata India, the Indian subsidiary of Czech multinational Bata Shoe Organisation which has operated in India since the year 1931 and is the largest retailer and manufacturer of footwear in India, operates India’s most extensive branded footwear retail network spanning over 1,500 stores across the country and manufactures footwear at multiple Indian production facilities. While primarily a footwear company, Bata India is included in apparel sector analyses for its role in the broader Indian fashion retail ecosystem and its status as one of India’s most recognised and long-standing consumer retail brands.
Bata India serves Indian consumers across every income segment with its comprehensive footwear retail network and is among India’s most trusted and long-established consumer brands, with its extraordinary physical retail presence across tier-1 through tier-3 cities reflecting the scale of distribution that makes it the most accessible organised footwear brand in India’s diverse geographic market.
8. KPR Mill Limited
KPR Mill, headquartered in Coimbatore and one of India’s leading vertically integrated garment manufacturers, is a direct beneficiary of the China-plus-one supply chain shift in global knitwear sourcing as international fashion brands move manufacturing away from Chinese producers. The company produces knitted garments including T-shirts, sportswear, and casual wear for major global fashion retailers and e-commerce brands, and its integrated production from fibre through finished garment provides competitive cost advantages. KPR Mill’s export revenue is growing rapidly alongside its domestic branded sales.
KPR Mill serves global fashion retailers and e-commerce brands with its vertically integrated knitwear manufacturing spanning yarn spinning, knitting, dyeing, and garment production, and is among the clearest direct beneficiaries of international fashion brand sourcing diversification away from China that is routing increasing volumes of knitwear orders to Indian manufacturers.
9. Welspun Living Limited (Home Textiles)
Welspun Living, a global leader in home textiles and one of India’s largest textile exporters, supplies bed linens, towels, rugs, and flooring to global retailers including Walmart, Target, and IKEA from its world-class Gujarat manufacturing facilities. While primarily classified as a home textiles company, Welspun’s apparel-adjacent textile manufacturing and its direct-to-consumer brand development for domestic Indian consumers position it within India’s broader apparel and home textiles industry. The India-UK FTA is a direct benefit for Welspun’s export business serving UK retail chains.
Welspun Living serves global retail chains with India-manufactured home textiles and is a direct beneficiary of the China-plus-one supply chain diversification in home textiles where its world-class manufacturing quality and sustainability credentials differentiate it from lower-cost competitors who cannot meet the strict compliance standards of global retail buyers.
10. Bombay Shirt Company (BSC)
Bombay Shirt Company, a premium custom shirt brand founded in the year 2012 and headquartered in Mumbai, has pioneered the made-to-measure apparel segment in India by making custom-fitted premium shirts accessible to the urban Indian professional through both physical stores and a digital customisation platform. The company represents India’s growing direct-to-consumer premium apparel segment that is challenging traditional ready-to-wear brands by offering superior personalised fit at price premiums that reflect the value of customisation without requiring the time investment of traditional bespoke tailoring.
Bombay Shirt Company serves India’s urban professional consumers who want premium, perfectly-fitted shirts without the time and price premium of traditional tailored clothing, and represents the growing segment of India’s apparel market where digital customisation tools are enabling premium D2C brands to compete effectively with established ready-to-wear brands on the crucial dimension of personal fit.
Frequently Asked Questions (FAQs)
Q: Which is the largest apparel company in India in 2026?
A: Aditya Birla Fashion and Retail is India’s largest listed fashion apparel company by revenue and store count, operating over 4,000 stores across its multiple fashion brands. By revenue growth and investor attention in 2026, Trent Limited’s Zudio format is the standout performer with 64 percent revenue growth. By brand value in the premium ethnic wear segment, Vedant Fashions’ Manyavar is the most dominant single-category apparel brand.
Q: What is the India-UK FTA’s impact on India’s apparel exports?
A: The India-UK Free Trade Agreement signed on July 24, 2025 grants duty-free access to 99 percent of India’s textile and apparel exports to the UK market. Previously, Indian garments faced tariffs of approximately 12 percent when entering the UK market versus Bangladesh at zero percent under the UK’s Generalised Scheme of Preferences. The FTA eliminates this competitive disadvantage, making Indian apparel exporters competitive with Bangladesh for UK retail buyers who source significant volumes of garments from South Asia.
Q: Why is Zudio growing so much faster than other apparel formats in India?
A: Zudio’s extraordinary 64 percent revenue growth in FY26 reflects its successful identification of a large and underserved market gap — trendy, fashion-forward clothing at price points mostly below Rs 999 for India’s aspirational middle class in tier-2 and tier-3 cities. This segment had limited access to organised branded fashion beyond expensive premium brands that most Indian families cannot afford for everyday wear. Zudio’s fast fashion inventory rotation, aggressive store expansion particularly in smaller cities, and Tata brand trust have created a combination that no competitor has effectively matched.
Q: How is e-commerce reshaping India’s apparel industry?
A: E-commerce has fundamentally disrupted India’s apparel industry by enabling consumers in tier-2 and tier-3 cities to access fashion brands previously unavailable in local markets, creating the first truly national fashion retail market in India. Myntra, owned by Flipkart, is India’s largest fashion e-commerce platform. Meesho has democratised fashion access for price-sensitive consumers. Quick commerce is enabling instant fashion delivery in urban markets. Together, these platforms have accelerated fashion brand awareness and aspirational consumption beyond what physical retail expansion alone could achieve.
Q: What is the opportunity in India’s ethnic wear market?
A: India’s ethnic wear market is estimated at approximately Rs 1.5 to 2 lakh crore and is one of the most underpenetrated organised retail opportunities in the country given how culturally important traditional Indian clothing is for weddings, festivals, and occasions. Vedant Fashions’ Manyavar has demonstrated through its market capitalisation that organised branded ethnic wear at premium price points can build extraordinary brand loyalty and repeat purchase behaviour. Multiple new entrants are attempting to replicate the Manyavar formula across different regional ethnic wear traditions and regional markets.
