India Silk & Luxury-Fabric Market 2026: Size, Growth, Exports & Velvet Demand

Silk is not just a fibre — it is a market. India is the world's second-largest silk producer, the leading material in the global luxury-fabric trade is silk, and demand for premium textiles like silk velvet sits inside a luxury-fabric category growing toward US$ 9 billion by 2030. This report compiles the 2026 data on India's silk production and market size, export value and destinations, the substitution of Chinese silk imports with domestic output, silk's share of the global luxury-fabric market, and where velvet fits on that demand curve.

Key findings

  • India's silk market reached 40.9 thousand tons in 2025 and is projected to reach 55.1 thousand tons by 2034, a 3.27% CAGR.[1]
  • India produced 41,121 MT of silk in FY25, up from 38,913 MT in FY24 and 31,906 MT in 2017-18 — India is the world's second-largest producer.[3]
  • India earned Rs 2,362 crore (US$ 280 million) from silk exports in 2024-25; the UAE, China and the USA are the top destinations.[4]
  • India has roughly halved raw-silk imports from China — from ~10,000 to ~5,700 tonnes — as domestic production rises.[13]
  • Silk is the single largest material in the global luxury-fabric market, with over a 24% revenue share in 2023.[6]
  • The global luxury-fabric market is forecast to grow from US$ 3.83bn (2023) to US$ 9.09bn by 2030 — the category that contains silk velvet and other premium weaves.[6]

What's in this report

  1. 1. Overview: silk and luxury fabric as a market
  2. 2. India's silk production and market size
  3. 3. Exports: value and destinations
  4. 4. China-import substitution
  5. 5. Silk's share of the global luxury-fabric market
  6. 6. Velvet and the luxury-fabric demand curve
  7. 7. India's luxury and premium-apparel demand
  8. 8. 2026 outlook
  9. Frequently Asked Questions

1. Overview: silk and luxury fabric as a market

This report treats silk and luxury fabric the way a sourcing desk does — as measurable markets with production volumes, growth rates, export values and material-share data, rather than as cultural artefacts. Three markets overlap here: India's silk market (production and domestic value), the global silk market (the worldwide fibre trade in which India is the second-largest producer), and the global luxury-fabric market (the premium-textile category in which silk is the leading material, and where velvet sits at the upper end).[6]

It is also the data backbone for our fabric guide Silk Velvet: What It Is and How to Style It — that piece explains how to wear silk velvet; this one quantifies the market it belongs to.[19] What follows is the 2026 numbers, each cited to a primary or industry source.

40.9K tonsIndia silk market, 2025[1]
55.1K tonsIndia silk market projection, 2034[1]
41,121 MTIndia silk production, FY25[3]
2ndIndia's rank among world silk producers[3]

2. India's silk production and market size

India's silk market reached approximately 40.9 thousand tons in 2025 and is projected to reach 55.1 thousand tons by 2034, expanding at a compound annual growth rate of 3.27% over 2026-2034.[1] On the supply side, India produced 41,121 metric tonnes of silk in FY25, up from 38,913 MT in FY24.[3] Raw-silk production has risen steadily from 31,906 MT in 2017-18 to 38,913 MT in 2023-24, per the Ministry of Textiles.[2]

India raw silk production: 31,906 MT (FY18) to 41,121 MT (FY25); raw-silk imports from China fell from ~10,000 to ~5,700 tonnes.[2][3][13]

India raw silk production and China silk imports, metric tonnes
Year India production (MT) Imports from China (tonnes)
FY18 31,906 10,000
FY24 38,913 5,700
FY25 41,121 5,700

Production is geographically concentrated: Karnataka was the leading raw-silk producing state with over 12,000 MT in FY24, ahead of Andhra Pradesh, Assam, West Bengal and Jharkhand.[10] By value, Ken Research estimated the India silk market at about US$ 3.5 billion in 2023.[14] The sector is also a significant rural employer — sericulture supports around 9.76 million people across 52,500+ villages — though that craft-labour economy is the subject of our Handcraft & Embroidery Economy report rather than this market analysis.[17][21]

31,906 MTIndia raw silk production, 2017-18[2]
38,913 MTIndia raw silk production, FY24[2]
12,000+ MTKarnataka raw silk output, FY24 (top state)[10]
US$ 3.5BIndia silk market value, 2023 (Ken Research)[14]

3. Exports: value and destinations

India earned about Rs 2,362 crore (US$ 280 million) from silk exports in 2024-25, according to the Central Silk Board.[4] The Observatory of Economic Complexity, using calendar-year trade data, records India's silk exports at US$ 155 million in 2024, with the bulk going to three markets: the United Arab Emirates (US$ 69.5M), China (US$ 32.5M) and the United States (US$ 11.3M).[5]

India silk exports by destination, 2024, US$ million (total US$ 155M).[5]

India silk export destinations, 2024, US$ million
Destination Exports (US$M)
United Arab Emirates 69.5
China 32.5
United States 11.3
Rest of world 41.7

The destination mix is instructive. The UAE — a Gulf re-export and luxury hub — is the single largest buyer, and China, despite being the world's largest silk producer, imports finished Indian silk, underlining that India competes on product and craft value rather than raw tonnage alone.[5] Silk exports sit inside a much larger national push: India's textiles and apparel exports are targeted to reach US$ 100 billion by FY30, up from roughly US$ 34 billion.[16]

Rs 2,362 crIndia silk exports, 2024-25 (US$ 280M)[4]
US$ 69.5MSilk exports to UAE, 2024 (top destination)[5]
US$ 32.5MSilk exports to China, 2024[5]
US$ 11.3MSilk exports to USA, 2024[5]

4. China-import substitution

For decades India relied on imported Chinese silk to meet demand. That dependence has fallen sharply: raw-silk imports from China have been roughly halved, from about 10,000 tonnes annually to around 5,700 tonnes, as domestic production has climbed.[13] With FY25 output at 41,121 MT and rising, the substitution engine is structural — every additional tonne of domestic mulberry silk displaces an imported one.[3]

"India produces more of its own silk every year and imports less of China's. That shift — from buying silk to making it — is the quiet story behind India's rise as a silk economy, and it is why "Indian silk" increasingly means Indian-grown, not just Indian-finished."— Ramola Bachchan, Founder, First Resort

The trajectory matters for buyers because it shortens and de-risks the supply chain for silk garments produced in India, and it reframes Indian silk as a domestically-anchored material rather than a re-export of Chinese fibre. The global silk market this sits within was valued at about US$ 20.8 billion in 2024 and is projected to reach US$ 38.7 billion by 2035 at a 5.80% CAGR.[11]

~10,000 tIndia raw-silk imports from China (earlier)[13]
~5,700 tIndia raw-silk imports from China (now)[13]
US$ 20.8BGlobal silk market, 2024[11]
US$ 38.7BGlobal silk market, 2035 (5.80% CAGR)[11]

5. Silk's share of the global luxury-fabric market

Silk is not merely a luxury fabric — it is the leading one. In the global luxury-fabric market, the silk segment dominated in 2023 with a revenue share of over 24%, according to Grand View Research;[6] Market.us puts the figure at 24.5%.[7] The market itself was valued at US$ 3,825.5 million in 2023 and is projected to reach US$ 9,089.4 million by 2030.[6] Market.us models an 11.7% CAGR, taking the market toward roughly US$ 11.8 billion by 2033.[7]

Global luxury-fabric market: US$ 3.83bn (2023) to US$ 9.09bn (2030, Grand View) / ~US$ 11.8bn (2033, Market.us). Silk holds over 24% of that market.[6][7]

Global luxury-fabric market size, US$ billion
Year Market size (US$B)
2023 3.83
2030 (Grand View) 9.09
2033 (Market.us) 11.80

That share is the bridge between two of this report's markets: India's silk output feeds directly into the most valuable slice of the global premium-textile trade. As long as silk holds a quarter of the luxury-fabric market and that market roughly doubles by 2030, demand for silk — including the silk-velvet weaves at its upper end — has a structural floor.[6] The broader global silk fibre market echoes this: Technavio forecasts it to grow by US$ 6.80 billion over 2026-2030 at a 10.4% CAGR.[12]

24%+Silk's share of luxury-fabric market, 2023[6]
US$ 3.83BGlobal luxury-fabric market, 2023[6]
US$ 9.09BGlobal luxury-fabric market, 2030[6]
11.7%Luxury-fabric market CAGR (Market.us)[7]

6. Velvet and the luxury-fabric demand curve

Velvet sits at the construction-heavy, material-rich end of the fabric spectrum, which is why fine velvet — and silk velvet especially — falls inside the luxury-fabric category rather than the commodity-textile one. Velvet's dense cut pile requires more yarn and a specialised double-cloth loom setup; weave that pile in silk, the leading luxury-fabric material, and you have a textile that compounds construction cost with fibre value.[6] Silk velvet — typically silk, or a silk-rich blend for the pile — delivers a fluid drape and deep, light-absorbing lustre that cotton, polyester and "crushed" synthetic velvets cannot replicate.

For the demand side, the relevant number is the one above: the luxury-fabric market that contains premium velvet is growing from US$ 3.83 billion (2023) toward US$ 9.09 billion (2030), with silk its anchor material.[6] Our companion guide, Silk Velvet: What It Is and How to Style It, covers the fabric itself — how it is woven, how it behaves and how to wear it.[19] For shoppers, explore our velvet and silk collections.

US$ 11.8BLuxury-fabric market, 2033 (Market.us)[7]
24.5%Silk's share of luxury fabric (Market.us, 2023)[7]
US$ 6.80BGlobal silk market growth, 2026-2030 (Technavio)[12]
10.4%Global silk market CAGR (Technavio)[12]

7. India's luxury and premium-apparel demand

The domestic demand engine for high-value fabric is India's fast-growing luxury market. Per Kearney, India's luxury market was valued at US$ 7.74 billion in 2023 and is projected to approach US$ 12 billion by 2028 — a growth rate set to outpace many other nations.[8] Within apparel specifically, the India luxury-apparel market is forecast to reach US$ 10.9 billion by 2034 at a 3.42% CAGR, driven by rising disposable incomes and premiumisation.[9]

This premiumisation is what pulls silk and luxury fabric into mainstream demand: as Indian buyers trade up from functional apparel toward pieces with provenance and material quality, silk and silk-velvet become differentiators rather than indulgences. The same demand shift documented in our Resort Wear Market in India 2026 report — destination travel, weddings, occasion wear — flows directly to high-value fabric whenever a buyer chooses silk over a synthetic alternative.[20]

US$ 7.74BIndia luxury market, 2023 (Kearney)[8]
US$ 12BIndia luxury market, 2028 (Kearney)[8]
US$ 10.9BIndia luxury-apparel market, 2034[9]
3.42%India luxury-apparel CAGR to 2034[9]

8. 2026 outlook

The structural picture for 2026 and beyond is consistent across every dataset in this report. India's silk production is rising (41,121 MT in FY25) and projected toward 55.1 thousand tons by 2034;[1][3] imports from China are falling;[13] silk holds a quarter of a luxury-fabric market that roughly doubles by 2030;[6] and India's own luxury-apparel demand grows toward US$ 10.9 billion by 2034.[9] Each trend reinforces the others: more domestic silk, into a larger luxury-fabric market, sold to a premiumising domestic buyer.

The broadest backdrop is India's textiles and apparel market, projected to grow at a 10% CAGR to US$ 350 billion by 2030, with exports targeted at US$ 100 billion.[15] Silk and luxury fabric — including silk velvet — are a high-value niche within that, but a niche with an unusually durable demand floor: a single material that owns a quarter of the world's luxury-fabric spend, made increasingly at home.[6]

US$ 350BIndia textiles & apparel market, 2030[15]
US$ 100BIndia textile export target, FY30[16]
10%India textiles & apparel CAGR to 2030[15]
55.1K tonsIndia silk market, 2034[1]

Frequently Asked Questions

How big is India's silk market?

India's silk market reached approximately 40.9 thousand tons in 2025 and is projected to reach 55.1 thousand tons by 2034, growing at a compound annual growth rate (CAGR) of 3.27% over 2026-2034. By value, Ken Research estimated the India silk market at about US$ 3.5 billion in 2023. India is the world's second-largest silk producer.

How much silk does India produce?

India produced 41,121 metric tonnes (MT) of silk in FY25, up from 38,913 MT in FY24. Raw silk production has risen steadily from 31,906 MT in 2017-18 to 38,913 MT in 2023-24, according to the Ministry of Textiles. Mulberry silk is the largest variety by share.

How much silk does India export?

In 2024-25, India earned about Rs 2,362 crore (US$ 280 million) from silk exports, per the Central Silk Board. The Observatory of Economic Complexity records India's silk exports at US$ 155 million in calendar year 2024, with the United Arab Emirates (US$ 69.5M), China (US$ 32.5M) and the United States (US$ 11.3M) the top destinations.

Where is silk produced in India?

Silk is produced mainly in Karnataka, which was the leading raw-silk producing state with over 12,000 MT in FY24, followed by states including Andhra Pradesh, Assam, West Bengal and Jharkhand. India produces all four commercial varieties — mulberry, tasar, eri and muga — with mulberry the dominant type.

Is silk a luxury fabric?

Yes. Silk is the single largest material in the global luxury-fabric market, with a revenue share of over 24% in 2023, according to Grand View Research (Market.us puts it at 24.5%). The global luxury-fabric market was valued at US$ 3,825.5 million in 2023 and is projected to reach US$ 9,089.4 million by 2030.

How fast is the luxury-fabric market growing?

The global luxury-fabric market is forecast to grow from US$ 3,825.5 million in 2023 to US$ 9,089.4 million by 2030 (Grand View Research). Market.us models an 11.7% CAGR, with the market reaching roughly US$ 11.8 billion by 2033. Silk, the leading material, anchors that growth.

How big is the global silk market?

The global silk market was valued at about US$ 20.8 billion in 2024 and is projected to reach US$ 38.7 billion by 2035, a 5.80% CAGR (Market Research Future). Technavio separately forecasts the market to grow by US$ 6.80 billion over 2026-2030 at a 10.4% CAGR. India is the world's second-largest producer.

Has India reduced its silk imports from China?

Yes. India has roughly halved its raw-silk dependence on China — from about 10,000 tonnes annually to around 5,700 tonnes, according to Central Silk Board figures. Rising domestic production (41,121 MT in FY25) is the substitution engine, with the long-term goal of cutting import dependence further.

What is the difference between silk velvet and other velvet?

Silk velvet is velvet woven with silk fibre (often a silk-rayon blend for the pile), giving it a fluid drape, deep light-absorbing lustre and a softer hand than cotton, polyester or "crushed" synthetic velvets. It sits at the luxury end of the velvet spectrum because silk itself commands over a 24% share of the luxury-fabric market. See our companion guide, Silk Velvet: What It Is and How to Style It.

Why is velvet considered a luxury fabric?

Velvet is labour- and material-intensive to weave — its dense cut pile requires more yarn and a specialised double-cloth loom setup — and at the premium end it is woven in silk, the leading luxury-fabric material. That combination of construction cost and fibre value places fine velvet, especially silk velvet, in the luxury-fabric category that Grand View Research valued at US$ 3.83 billion in 2023.

How big is India's luxury market?

India's luxury market was valued at US$ 7.74 billion in 2023 and is projected to approach US$ 12 billion by 2028, per Kearney. Within apparel specifically, the India luxury-apparel market is forecast to reach US$ 10.9 billion by 2034 at a 3.42% CAGR. Rising disposable incomes and premiumisation are the key drivers.

How big is India's overall textile and apparel market?

India's textiles and apparel market is projected to grow at a 10% CAGR to reach US$ 350 billion by 2030, with exports targeted at US$ 100 billion by FY30 (up from roughly US$ 34 billion), according to IBEF and the Commerce Ministry. Silk and luxury fabrics are a high-value niche within this much larger sector.

Read more on the fabrics and markets behind premium Indian fashion:

For shoppers: explore our silk and velvet collections.

Methodology. This report compiles published 2023-2026 data from IMARC Group, the Ministry of Textiles and its Press Information Bureau, the Central Silk Board, IBEF (India Brand Equity Foundation), the Observatory of Economic Complexity (OEC), Grand View Research, Market.us, Kearney, Statista, Market Research Future, Technavio and Ken Research. India silk-production figures are official Ministry of Textiles / Central Silk Board data; the FY25 production figure (41,121 MT) is the most recent available. Export figures are reported on two bases — Central Silk Board fiscal-year value (Rs 2,362 crore / US$ 280M, 2024-25) and OEC calendar-year trade data (US$ 155M, 2024) — and both are labelled as such; the destination breakdown uses OEC 2024 data. Luxury-fabric and silk market-size projections reflect the cited firms' models; where two firms differ (e.g. silk's 24% vs 24.5% luxury-fabric share, or the 2030 vs 2033 horizon), both are shown. Sericulture employment figures appear only as production-base context for the silk supply chain; the artisan and craft-labour economy is covered separately in our handcraft and embroidery economy report. No internal First Resort sales data is included in this report.
About First Resort by Ramola Bachchan. First Resort by Ramola Bachchan is a designer label specialising in resort and occasion wear for women — kaftans, tunics, dresses, co-ord sets, and silhouettes built for Indian destination travel and celebration. Sizes XS to 8XL, ships globally from India. Visit firstresort.in.

Related research: Silk Velvet: What It Is and How to Style It · India's Handcraft & Embroidery Economy 2026 · The Premiumization of Indian Fashion 2026 · Resort Wear Market in India 2026

Sources

  1. IMARC Group. India Silk Market Size & Trends, Outlook Report 2034 — 40.9K tons (2025) to 55.1K tons (2034), 3.27% CAGR. View source
  2. Press Information Bureau / Ministry of Textiles. The Magic of Indian Silk — raw silk production rose from 31,906 MT (2017-18) to 38,913 MT (2023-24). View source
  3. IBEF (India Brand Equity Foundation). Silk Industry and Export in India — India produced 41,121 MT of silk in FY25 (vs 38,913 MT in FY24). View source
  4. Central Silk Board, Ministry of Textiles. Indian silk exports 2024-25 — Rs 2,362 crore and US$ 280 million in silk exports. View source
  5. The Observatory of Economic Complexity (OEC). Silk in India Trade — India exported US$ 155M of silk in 2024 (UAE $69.5M, China $32.5M, USA $11.3M). View source
  6. Grand View Research. Luxury Fabric Market Size And Share Report, 2030 — US$ 3,825.5M (2023) to US$ 9,089.4M (2030); silk segment over 24% revenue share in 2023. View source
  7. Market.us. Luxury Fabric Market — 11.7% CAGR; silk led with a 24.5% share in 2023. View source
  8. Kearney. Luxury: Is India the next China? — India's luxury market US$ 7.74bn (2023), projected to approach US$ 12bn by 2028. View source
  9. Industry Today. India Luxury Apparel Market — projected US$ 10.9 billion by 2034 at a 3.42% CAGR. View source
  10. Statista. India: raw silk production by state 2024 — Karnataka the leading producer with over 12,000 MT in FY24. View source
  11. Market Research Future. Silk Market — global silk market US$ 20.8bn (2024) to US$ 38.7bn (2035), 5.80% CAGR. View source
  12. Technavio. Silk Market Analysis & Forecast 2026-2030 — global silk market to grow by US$ 6.80 billion, 10.4% CAGR. View source
  13. The Hindu BusinessLine (Central Silk Board). India halves raw silk imports from China — dependence cut from ~10,000 tonnes to ~5,700 tonnes. View source
  14. Ken Research. India Silk Market Outlook to 2030 — India silk market estimated at US$ 3.5 billion in 2023. View source
  15. IBEF (India Brand Equity Foundation). Textiles Industry in India — textiles & apparel market projected to reach US$ 350bn by 2030 (10% CAGR), exports to US$ 100bn. View source
  16. IBEF / Commerce Ministry. Commerce Ministry targets US$ 100 billion in textile exports by FY30 (up from ~US$ 34bn). View source
  17. IBEF (sericulture employment — market context). Silk Industry and Export in India — sericulture employs ~9.76 million people across 52,500+ villages (FY25). View source
  18. IJFMR / GI Registry of India. Banaras Brocade and Sarees granted Geographical Indication on 4 September 2009 (App. No. 99). View source
  19. First Resort by Ramola Bachchan. Silk Velvet: What It Is and How to Style It — fabric guide. View source
  20. First Resort by Ramola Bachchan. Resort Wear Market in India 2026 — Industry Data Report. View source
  21. First Resort by Ramola Bachchan. India's Handcraft & Embroidery Economy 2026 — Industry Data Report. View source

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