India’s textile industry poised to achieve US$ 350 billion target by 2030
- IBEF
- June 12, 2026
India’s textile industry has emerged as one of the country’s key growth engines, expanding to nearly Rs. 16.66 lakh crore (US$ 190 billion) in 2025-26 and setting its sights on achieving a market size of Rs. 33.10 lakh crore (US$ 350 billion) by 2030. The domestic textile market has increased significantly from about Rs. 6 lakh crore (US$ 93.63 billion) in 2014-15 to over Rs. 16 lakh crore (US$ 170.4 billion), reflecting rising consumption, expanding manufacturing capabilities and stronger value-chain integration. According to Textiles Minister Mr. Giriraj Singh, the sector currently provides direct employment to more than 5.3 crore people and is expected to create nearly 2 crore additional jobs over the next three years. Guided by the Prime Minister Mr. Narendra Modi’s 5F vision- Farm to Fibre, Fibre to Factory, Factory to Fashion and Fashion to Foreign, the industry has evolved into a comprehensive ecosystem connecting farmers, weavers, artisans, manufacturers and exporters.
The Government has introduced several initiatives to strengthen the sector’s competitiveness, including PM MITRA Parks, the Production Linked Incentive (PLI) Scheme, the National Technical Textiles Mission (NTTM), the Textiles Export Promotion Mission (TEEM), the National Fibre Mission and the Raw Material Support Scheme (RMSS). Measures such as the Cotton Productivity Mission and the removal of import duty on cotton are supporting raw material availability and farmer incomes. Export competitiveness has been further enhanced through RoSCTL and RoDTEP schemes, while India’s FTA network has expanded from 10 agreements covering 19 countries in 2014 to 18 agreements covering 56 countries. India has also emerged as a global leader in technical textiles, with the market growing from about Rs. 55,734 crore (US$ 6 billion) to Rs. 2.32 lakh crore (US$ 25 billion) under NTTM.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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