India’s textile industry is poised for substantial growth, with
the Ministry of Textiles setting ambitious targets to reach a
market size of USD 300 billion by 2030 and generate employment
for 60 million people across the textile value chain, Union
Minister Giriraj Singh announced.
Recent data indicates promising growth in the sector, with
textile exports in October showing an 11.56 percent increase to
USD 1,833.95 million compared to the previous year.Apparel
exports demonstrated even stronger performance, surging by
35.06 percent to USD 1,227.44 million in the same period,
according to the Confederation of Indian Textile Industry’s
report based on government data.The cumulative exports of
textiles and apparel in October 2024 saw a 19.93 percent rise
compared to October 2023.The April-October period witnessed
steady growth, with textile exports increasing by 4.01 percent
and apparel exports rising by 11.60 percent compared to the
previous year.According to Invest India, the government’s
investment promotion agency, the domestic textile market,
valued at approximately USD 165 billion in 2022, comprises
USD 125 billion from domestic sales and USD 40 billion from
exports.The agency projects the market to grow at a 10 percent
compound annual growth rate, reaching USD 350 billion by
2030, with total textile exports expected to hit USD 65 billion
by FY26.
inaugurated the new permanent campus of the Indian
Institute of Handloom Technology (IIHT) in Fulia, Nadia, West
Bengal.The state-of-the-art facility, built at a cost of Rs 75.95
crore across 5.38 acres, features smart classrooms, a digital
library, and advanced testing laboratories.
The institute is designed to serve as a centre of excellence in
handloom and textile technology, catering to students from
West Bengal, Bihar, Jharkhand, and Sikkim.
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