The India census report published in 2001, Ichalkaranji had a population of 307, 572. Males account for 53% of the population while females consists of 47% of the population. In Ichalkaranji, 13% of the population is less than six years of age. The literacy rate of this town as published in the census report is 73%. This a progressive trend because the national average literacy rate is 59.5%. Gender wise the male literacy rate is 80% and the female literacy rate is 66%.
Ichalkaranji is famous for its textile industries and is considered as the Manchester of Maharastra. Earlier only cotton dhoties and sarees of Ichalkaranji were famous but now all types of garments are produced here.Since it is located near the Maharashtra-Karnataka border, Ichalkaranji has a mixed culture consisting of Marathi and Kannada speaking population.