Indian Economy News

India pushes for global textile leadership with US$ 100 billion export target

Union Finance Minister Ms. Nirmala Sitharaman called for strengthening India’s textile value chain “from farm to fibre, factory, fashion and foreign markets” to build a globally competitive textile industry while addressing the TEXPROCIL Export Awards ceremony in Mumbai. The statement further emphasised that India aims to achieve Rs. 9.67 lakh crore (US$ 100 billion) in textile exports and Rs. 24.17 lakh crore (US$ 250 billion) in textile production by 2030, with the sector expected to play a critical role in achieving the vision of Viksit Bharat by 2047. Organised by the Cotton Textiles Export Promotion Council (TEXPROCIL), the event honoured exporters for excellence in exports, innovation, employment generation, ESG initiatives and e-commerce performance. Additionally, the statement noted that TEXPROCIL’s Advanced Certificate Programme in International Trade (ACPIT) was launched during the event to strengthen India’s export ecosystem and improve global competitiveness.

Highlighting India’s rich textile heritage tracing back to the Sindhu-Saraswati Civilisation, the statement noted that India is currently the world’s sixth-largest textile exporter. The sector contributes around 2.3% to India’s GDP and nearly 12% of total export earnings, while supporting close to six crore livelihoods directly and indirectly. It further elaborated that textile exports reached Rs. 3.01 lakh crore (US$ 33.5 billion) in 2025-26. The statement also underscored key reforms introduced since 2014, including GST reforms, the PM MITRA Parks scheme and the Samarth Scheme. Additionally, the statement noted that seven PM MITRA parks are under development, with investment MoUs worth Rs. 27,000 crore (US$ 2.91 billion) already signed.

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