Indian Textile Industry to Hit USD 350 Billion by 2030: Giriraj Singh

Union Minister of Textiles, Giriraj Singh, announces that the Indian textiles industry is set to grow to USD 350 billion by 2030, generating millions of jobs. Key initiatives under PM MITRA and other projects aim to boost production, exports, and investment in the sector.

The Indian textiles industry is poised to reach a staggering USD 350 billion by 2030, potentially generating millions of jobs, as stated by Union Minister of Textiles, Giriraj Singh. Speaking at a press conference in New Delhi on Friday, Singh elaborated on the Ministry's 100-day achievements that lay the groundwork for these ambitious targets.

Under the PM MITRA (Pradhan Mantri Mega Integrated Textile Region and Apparel) Park initiative, Singh announced that Rs. 70,000 crore in investment is anticipated, which is expected to create 21 lakh jobs. He emphasized the burgeoning potential for technical textiles, setting an export target of USD 10 billion by 2030.

Highlighting the artisanal sector, Singh noted that 1 crore artisans are currently involved in handloom and handicraft initiatives, with the Ministry launching several schemes to boost this segment. The Bharat Tex platform aims to attract foreign investment, focusing on style, scale, skill, and sustainability. Additionally, Singh announced targets for silk production and the expansion of the Eri Sericulture Promotional Project nationwide.

The Ministry's efforts over the past 100 days span various aspects of the textile sector, from infrastructure and technical textiles to startup support and natural fibers like silk and jute. Currently, India's textile and apparel industry is valued at USD 165 billion, with significant contributions from both domestic and export markets.

(With inputs from agencies.)