India textile exports – Bharat Pulse News

Prime Minister Narendra Modi announced on February 16, 2025, that India aims to triple its textile exports to ₹9 lakh crore by 2030. This goal aligns with the nation's vision of the "Five Fs"—Farm, Fiber, Fabric, Fashion, and Foreign—and seeks to capitalize on emerging global opportunities in textile recycling, projected to be worth $7.5 billion. Current Achievements and Future Aspirations Speaking at the inaugural session of Bharat Tex 2025 in New Delhi, Prime Minister Modi highlighted the sector's recent growth, noting a 7% increase last year that positioned India as the world's sixth-largest textile exporter. He expressed confidence that the industry could achieve double-digit growth in the coming years, emphasizing the importance of innovation and sustainability in reaching the ambitious export target. Bharat Tex 2025: A Platform for Global Expansion Bharat Tex 2025, held from February 14 to 17 at Bharat Mandapam, serves as a significant platform for the textile industry, bringing together participants from 126 countries. The event showcases the entire textile value chain, from raw materials to finished products, including accessories. Prime Minister Modi underscored the event's role in providing entrepreneurs exposure to international markets, stating that it offers an opportunity to expand businesses from local to global arenas. Emphasis on MSMEs and Employment Generation The Prime Minister highlighted the critical role of micro, small, and medium enterprises (MSMEs) in the textile sector's growth. He noted that establishing a textile manufacturing unit typically requires an investment of approximately ₹70-75 crore and can generate employment for about 2,000 individuals. Modi urged the banking sector to meet the credit needs of MSMEs to facilitate their expansion and job creation, recognizing the textile industry's significant contribution to employment and its 11% share in India's manufacturing sector. Exploring Opportunities in Textile Recycling Prime Minister Modi called upon Indian firms, particularly startups, to explore ventures in textile recycling. He highlighted that this emerging sector is expected to become a nearly $400 million industry within the country and about $7.5 billion globally. Emphasizing sustainability, he encouraged innovation in recycling processes to reduce waste and enhance the industry's environmental footprint. Government Initiatives Supporting the Textile Sector The government has implemented several initiatives to bolster the textile industry, including the Pradhan Mantri Mega Integrated Textile Region and Apparel (PM MITRA) scheme. This program aims to attract investments totaling ₹70,000 crore and create 21 lakh jobs by establishing integrated textile parks across the country. Additionally, the Eri Sericulture Promotional Project, launched in Gujarat, focuses on expanding silk cultivation nationwide, benefiting approximately 1 crore people connected to the sector. The Prime Minister's announcement reflects a strategic vision to enhance India's position in the global textile market through innovation, sustainability, and comprehensive support for industry stakeholders.

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