The textiles industry in India is poised to grow to USD 350 billion by 2030, generating millions of jobs in the process, according to Union Minister of Textiles Giriraj Singh. In a press conference addressing the 100 Days Achievements of the Ministry in New Delhi, Singh highlighted that the achievements so far have laid the foundation for achieving the set targets by 2030. The focus is on all aspects of the value chain of the textiles sector to ensure sustainable growth and development.
One of the key initiatives mentioned by the Union Minister is the PM MITRA (Pradhan Mantri Mega Integrated Textile Region and Apparel) Park, which is expected to attract Rs. 70,000 crore investment and create 21 lakh jobs. Singh also emphasized the huge potential for technical textiles in the country, setting an export target of USD 10 billion by 2030. Additionally, he highlighted the significance of handloom and handicraft sectors, mentioning that 1 crore artisans are connected with the industry, and various initiatives are being undertaken to boost this sector.
Bharat Tex, a platform aimed at attracting foreign investment in the textile sector, is expected to help India achieve 4S–style, scale, skill, and sustainability. The Union Minister also set a target of 50,000 metric tonnes of silk production in the long run, emphasizing the employment generation potential in the silk sector, where around 1 crore people are connected. Initiatives like VisioNxt, an Indigenous trend forecasting initiative, and the Eri Sericulture Promotional Project launched in Gujarat, which will be expanded nationwide, are part of the Ministry’s efforts to enhance the textile industry.
The Ministry of Textiles has taken several initiatives during the first 100 days of the government, covering various segments of the textile sector including infrastructure, technical textiles, research and development, startups, empowering artisans and weavers, and strengthening natural fiber sectors like Silk and Jute. The focus is on strengthening the sector’s contribution to growth and enhancing India’s position in the global textile industry. The textile and apparel industry in India was valued at around USD 165 billion in 2022, with USD 125 billion coming from the domestic market and USD 40 billion from exports, according to Invest India.
In conclusion, the textiles industry in India is on a growth trajectory with ambitious targets set for 2030. The government is taking proactive steps to boost investment, create jobs, promote exports, and empower artisans and weavers in the sector. Initiatives like the PM MITRA Park, Bharat Tex, and VisioNxt, along with efforts to strengthen the silk and jute sectors, are expected to propel the industry towards the USD 350 billion mark by 2030. With a focus on sustainability and innovation, the Ministry of Textiles aims to position India as a global leader in the textile industry.
