The Indian saree market is predicted to register a compounded annual progress charge of 6 per cent over the subsequent three years to touch Rs. 61,700 crore by FY ’25 from Rs. 46,400 crore in FY ’20 with a steady increase in the contribution of women to economic growth, especially in management roles.
Given the rising potential of this market, Isha Ambani, who heads Reliance Retail, on the firm’s current shareholders assembly, mentioned that the corporate strengthened its product portfolio by coming into classes corresponding to saree, lingerie and residential furnishing, and have quickly scaled to set up important positions in each of them.
Reliance Retail last year launched its flagship retailer ‘Avantra by Trends’ in Bengaluru with formidable plans to broaden its saree model within the south and take it to a Pan India level.
It invested Rs. 7,600 crore in strengthening its retail presence within the March quarter.
The saree market in Surat and Rajkot is estimated at Rs. 80,000 crore, and many other markets in India like Varanasi should be in the range of Rs. 75,000 crore; Kancheepuram, Mysore, Kota, Andhra Pradesh and Telangana, Kolkata and Madhya Pradesh would be at Rs.1,45,0000 crore, he mentioned.
Some of the big manufacturers which have witnessed and achieved sizable business within the saree section are Sai Silks Kalamandir, Pothy’s Nallis and Kalyan Silks.
