Textile Industry & Market Growth in India

India is the second-largest producer of MMF Fibre and the third largest exporter of textiles and apparel in the world.

Advantage India

Robust
Demand

* Cotton production in India is projected to reach 7.2 million tonnes by 2030, driven by increasing demand from consumers.

* India’s textile and apparel exports (including handicrafts) stood at US$ 44.4 billion in FY22, a 41% increase YoY.

* Mr. Piyush Goyal discussed the roadmap to achieve the target of US$ 250 billion in textiles production and US$ 100 billion in exports by 2030.

Robust Demand Icon

Competitive
Advantage

* India enjoys a comparative advantage in terms of skilled manpower and in cost of production, relative to major textile producers.

* In June 2022, Minister of Textiles, Commerce and Industry, Consumer Affairs & Food and Public Distribution, Mr. Piyush Goyal, stated that the Indian government wants to establish 75 textile hubs in the country.

Competitive Advantage

Policy
support

* 100% FDI (automatic route) is allowed in textiles.

* Production-linked Incentive (PLI) Scheme worth Rs. 10,683 crore (US$ 1.44 billion) for manmade fibre and technical textiles over a five-year period.

* The Indian government has notified uniform goods and services tax rate at 12% on man-made fabrics (MMF), MMF yarns and apparel, which came into effect from January 1, 2022.

* 1,83,844 beneficiaries trained across 1,880 centres under Samarth.

Policy Support

Increasing
Investments

* In June 2023, Government approved R&D projects worth US$ 7.4 million (Rs. 61.09 crore) in textile sector

* Huge funds in schemes such as Rs. 900 crore (US$ 109.99 million) for Amended Technology Upgradation Fund Scheme (ATUFS) have been released by the Government in the union budget of 2023-24 to encourage more private equity investments and provide employment.

* Total FDI inflows in the textiles sector stood at US$ 4.34 billion between April 2000-September 2023.

Textile Market Growth
Last updated: Feb, 2024

Major Textiles hubs in India  

  • NCR
  • Gujarat
  • Maharashtra
  • Uttar Pradesh
  • West Bengal
  • Tamil Nadu
  • Madhya Pradesh
  • Rajasthan

Posters

MORE
List of Top Indian Textile Manufacturing Companies

List of Top Indian Textile Manufacturing Companies

The technical textile industry in india worth US$ 17 billion is expected to grow at a rate of 20 per cent annually to reach US$ 36 billion by 2016-17.

IBEF Campaigns

MORE
Gulfood Dubai 2023

Gulfood Dubai 2023

APEDA India Pavilion Gulfood February 20th-26th, 2022 | World Trade Centre,...

India Organic Biofach 2022

India Organic Biofach 2022

Ibef Organic Indian Pavilion BIOFACH2022 July 26th-29th, 2022 | Nuremberg, ...

Case Studies

MORE

The Growth of Ayurveda in India

The Growth of Ayurveda in India

Ayurveda, an ancient health system originating from India, has a longstanding history. It revolves around using plants and herbs to maintain health an...

The Success of Digital India

The Success of Digital India

India's digital ecosystem has undergone an enormous change in recent years. The progressive integration of government services into digital platfo...

A Green, Sustainable Cotton: Kala Cotton

A Green, Sustainable Cotton: Kala Cotton

Kala Cotton is indigenous to India and one of the few “Old World” varieties that is still being cultivated on a large scale in India. Farm...

IBEF BLOG

MORE
Unlocking the potential of skill financing in India
20 Feb 2024

Unlocking the potential of skill financing in India

Skill financing involves providing financial support to individuals or orga...

Indian M&E sector - The growing Short Form Video industry
20 Feb 2024

Indian M&E sector - The growing Short Form Video industry

Indians presently consume about 20GB of data per month on average, ranking ...

AgriTech Landscape in India
16 Feb 2024

AgriTech Landscape in India

India is recognised as a global agricultural powerhouse because of its grea...

Partners
Loading...