New Delhi, Oct. 29 -- The Indian luggage industry is projected to reach Rs 267 billion by calendar year 2028, growing at a compound annual growth rate (CAGR) of 12 per cent over CY23-CY28, according to a report by Motilal Oswal.

The report highlighted that after contracting sharply to Rs 60 billion in CY20 due to the COVID-19 pandemic, the sector rebounded strongly, clocking a robust 37 per cent CAGR between CY20 and CY23.

It stated "Indian luggage industry is projected to reach Rs 267b by CY28".

This recovery was supported by a surge in domestic and international travel, rising disposable incomes, and a growing preference for organized and branded products.

Branded players, which held a 52 per cent market share in CY23, are expected ...