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HomeBusinessUSD 100 Billion Export Target for Textiles by 2030: Darshana Jardosh

USD 100 Billion Export Target for Textiles by 2030: Darshana Jardosh

27 December 2022: Government is recognising the potential for boosting exports of Indian textiles in view of a large global market and aims to achieve USD 100 billion exports by 2030, industry needs to take advantage of new openings created by changes in the global supply chains in this opportune time, said Darshana Vikram Jardosh, Minister of State for Textiles and Railways. The minister was speaking at 14th Edition of Texcon 2022 organised in New Delhi by Confederation of Indian Industry (CII) on “Capitalizing the Emerging Opportunities to Create a Competitive Textiles & Apparel Sector”.

Technical textiles is one of the key emerging industries having far reaching applications across geotextiles, medical textiles, agrotextiles and sports textiles. “We must leverage opportunities in Technical textiles to ensure that India leads the global market in the segment”, said the minister.

Speaking at the occasion, Rachna Shah, Secretary, Ministry of Textiles, reiterated the significant role that textiles industry plays in achieving the vision of India@100 as a developed nation with a 10-fold increase in per capita income. The sector is poised at a critical juncture and ready to take a big leap facilitated by favorable policy regime, robust domestic demand and overall optimism. PLI scheme in the sector is helping to create big global players in shorter time and is expected to generate investment to tune of Rs.20,000 crore. MITRA scheme providing complete value chain support for textile parks will further help enhancing industry competitiveness by reducing logistics cost, increasing scale and generating employment.

India must explore new global opportunities and focus on emerging markets, such as South America and Africa. Secretary urged the industry to scale up and focus on value products, especially apparel, man-made fibre (MMF) and technical textiles, which are already growing at around 10% per annum. She also emphasized on increasing cotton productivity, ensuring quality through traceability and focus on R&D towards product diversification and process innovation and invited industry to collaborate with research agencies.

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