The Indian government has laid out a comprehensive strategy to revitalize the textile sector. Announcing the roadmap, Union Textile Minister Giriraj Singh emphasized a vision to:
- Create 4.5 to 6 crore jobs by 2030.
- Double the sector’s market size to $350 billion, up from $165 billion.
- Attract investments worth several lakh crores through initiatives like PM-MITRA mega textile parks.
These integrated parks, with an estimated $8.37 billion in investments, are projected to generate 21 lakh jobs upon full operation.
Focus on Export Growth
Despite recent challenges, including a 3.24% decline in textile exports in FY24, the government remains committed to achieving $100 billion in textile product exports by 2030. Efforts to strengthen exports include:
- Promoting man-made fabrics like synthetic, viscose, and natural fibres.
- Encouraging global sourcing as over 350 global brands procure textiles from India.
- Enhancing domestic production under the “Make in India” initiative.
Addressing Challenges
India’s textile exports have faced stiff competition from countries like Bangladesh and Vietnam. However, the government has dismissed concerns over their impact, citing the strength of the domestic market. With over 21 crore people born in India over the last decade, the focus remains on catering to the growing domestic demand.
Reviving Traditional Industries
A key part of the roadmap includes reviving heritage industries. The Bhagalpur silk industry, renowned for its quality products, has received special attention with an approved revival scheme aimed at boosting production and employment.
The Road Ahead
To achieve these ambitious goals, the government is focusing on:
- Infrastructure Development: Expanding mega textile parks.
- Modernization: Increasing production of high-demand fabrics.
- Employment Generation: Creating millions of jobs across the value chain.
Conclusion
The roadmap reflects a bold vision for transforming India into a global textile hub. By addressing challenges and leveraging its rich textile heritage, India is set to redefine its position in the global market, creating jobs and driving economic growth.
