India Aims High: Textile Sector Targets Rs 9 Lakh Crore Exports by 2030

Prime Minister Narendra Modi expressed confidence that India's textile sector will surpass its Rs 9 lakh crore export target before 2030. Key initiatives include the National Cotton Technology Mission and an increase in budget allocation. Modi emphasized the sector's role in employment generation and urged banks to invest in textile units.

Prime Minister Narendra Modi, during Bharat Tex 2025, expressed optimism that India's textile sector will reach its Rs 9 lakh crore export target before the projected 2030 deadline. The ongoing efforts in the sector have been bolstered by the announcement of a five-year Cotton Mission as part of the General Budget 2025, particularly focusing on increasing extra-long staple varieties with a Rs 500 crore allocation.

Emphasizing the industry's role as a major employment generator, Modi highlighted a 19 per cent increase in the Ministry of Textiles' budget for 2025-26. The Bharat Tex event in New Delhi is showcasing India's robust textile ecosystem, with participation from over 120 nations. Modi also called on the banking sector to support textile enterprises, noting that a single unit could employ 2,000 people for a modest Rs 75 crore investment.

India's textile exports grew by 7 per cent last year, with a focus on expanding the technical textile sector. Modi's '5F vision' — farm to fibre, fibre to factory, factory to fashion, and fashion to foreign — is designed to create new opportunities within the industry. Collaborative efforts with institutions like the IITs are encouraged to innovate new tools and techniques.

(With inputs from agencies.)