The Indian government has unveiled a comprehensive roadmap aimed at creating 4.5 to 6 crore jobs in the textile sector by the year 2030. This ambitious plan, announced by Union Minister for Textile Mr. Giriraj Singh, also includes expanding the market size of India's textile industry to an impressive US$ 350 billion, up from the current US$ 165 billion. The roadmap was shared during a press conference discussing the Ministry of Textiles' 100-day program, where Mr. Singh outlined the detailed plans and investment opportunities within the sector.

Aiming for Massive Investments and Job Creation

The textile sector has long been a key driver of India's economy, and this new initiative aims to revitalize and boost its global standing. Mr. Singh emphasized that the roadmap targets investment worth lakhs of crores, focusing on areas that would yield substantial growth. One of the major components of the plan is the development of the 7 PM-MITRA integrated mega textile parks, which have already been approved by the government. Once fully operational, these parks are expected to attract US$ 8.37 billion (or Rs. 70,000 crore) in investments and will generate around 21 lakh jobs.

This renewed focus on textiles is in stark contrast to previous approaches. Mr. Singh remarked that while previous governments failed to take significant action within their first 100 days, the Prime Minister Narendra Modi-led government has been proactive, laying down a well-structured roadmap for the textile sector within the first three months of their tenure. He added that the government’s commitment to growth is evident through the rapid development and execution of strategies aimed at reviving the industry.

Expanding Global Presence and Addressing Export Challenges

India's textile sector has faced several challenges in recent years, particularly in the export arena. In 2023-24, the country's textile and apparel exports declined for the second consecutive year, registering a 3.24% drop. Exports fell to US$ 34.4 billion, down from US$ 35.5 billion in the previous fiscal year. This dip underscores the need for enhanced strategies to reclaim India’s global share in textile exports.

Despite these challenges, the government remains optimistic. India’s target is to achieve US$ 100 billion in textile product exports by 2030. To reach this goal, the Ministry of Textiles is focusing on boosting production of man-made fabrics such as synthetic, viscose, and natural fibres. These materials are crucial in addressing domestic demand and expanding export capacity.

Mr. Singh also highlighted that over 350 global brands source their clothing from India, providing a solid foundation for further export growth. However, he pointed out that meeting export targets will require both internal reforms and the expansion of global markets for Indian textiles.

Strengthening the Domestic Industry

In his address, Mr. Singh stressed the importance of the "Make in India" initiative for the textile sector. As the country’s population continues to grow—21 crore people have been born in India over the last decade—so does the domestic demand for textiles. The Make in India program aims to meet this rising demand while boosting employment and supporting the domestic textile industry. He firmly asserted that neither Bangladesh nor Vietnam presents a major threat to India's textile industry, further bolstering confidence in the sector’s potential to thrive domestically and internationally.

One of the key strategies for driving growth in the textile sector is the promotion of man-made fabrics. As Mr. Singh explained, these fabrics—ranging from synthetic to viscose and natural fibres—will play a crucial role in scaling production and meeting both export and local needs. The government’s investment in R&D, technology adoption, and infrastructure development will further help Indian manufacturers to compete effectively in the global market.

Revival of the Bhagalpur Silk Industry

In addition to its broader initiatives, the government has also announced a scheme to revive Bhagalpur’s silk industry, which has historically been one of the most significant contributors to the Indian textile market. This revival plan aims to rejuvenate the silk industry, promote local employment, and restore Bhagalpur’s global reputation as a premier silk producer.

The move aligns with the larger PM-MITRA initiative and the focus on creating high-value jobs across the textile industry. By enhancing production capabilities in traditional sectors such as silk, India is poised to become a more competitive player in the global textile industry.

Looking Ahead: Textile Sector in 2030

As the government sets its sights on 2030, it is clear that the textile sector will be a major contributor to India's economic growth. The commitment to creating 4.5 to 6 crore jobs, increasing investments, and boosting exports all signal a promising future for the industry. By continuing to support domestic production, promote global competitiveness, and encourage innovation, India is well-positioned to achieve its ambitious goals.

For businesses looking to tap into the vast potential of India’s textile sector, the roadmap presents numerous investment opportunities. With the government backing substantial public and private partnerships, both domestic and international investors can expect significant returns on their investments in manufacturing facilities, export-focused initiatives, and technological upgrades.

In conclusion, India’s textile sector is on the verge of a major transformation. With the government’s comprehensive plan, the industry is expected to thrive, contributing significantly to the nation’s economy and providing millions of new jobs. This will not only help India strengthen its position in the global market but also ensure sustainable growth and development across the textile value chain.

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