India’s textile sector is on track to surpass its ambitious export target of ₹9 lakh crore (US$ 103.72 billion) well before the 2030 deadline, according to Prime Minister Narendra Modi. Speaking at Bharat Tex 2025, he emphasized the sector’s resilience and growth potential, attributing it to sustained policy support, rising foreign investment, and key government initiatives such as the Cotton Mission.

Government Initiatives Boosting the Textile Industry

The General Budget 2025 announced a five-year Cotton Mission, with a ₹500 crore (US$ 57.62 million) allocation for the National Cotton Technology Mission. The primary goal of this initiative is to enhance cotton productivity, particularly for extra-long staple (ELS) varieties, ensuring India remains competitive in the global textile market.

The government has also increased the Ministry of Textiles' budget allocation to ₹5,272 crore (US$ 607.58 million) for FY24, marking a 19% rise from the previous year’s ₹4,417.03 crore (US$ 509.05 million). This reflects the government's commitment to strengthening textile manufacturing, improving cotton output, and boosting employment opportunities within the sector.

India’s Rising Textile Exports and Foreign Investment

India is currently the 6th largest textile and apparel exporter in the world, with exports valued at ₹3 lakh crore (US$ 34.57 billion). Over the past decade, the sector has witnessed double the foreign investment, driven by stable policy frameworks and strategic government interventions.

PM Modi expressed confidence that with consistent policy efforts and industry participation, India’s textile sector will surpass the ₹9 lakh crore export target before 2030.

Bharat Tex 2025 Showcases India’s Strength in Textiles

Held in New Delhi from February 14-17, 2025, Bharat Tex 2025 is a global textile industry event, attracting participation from over 120 nations. PM Modi highlighted India’s progress in high-grade carbon fibre manufacturing, a crucial element in technical textiles, aerospace, and defense applications.

The banking sector’s role in supporting textile businesses was another key focus. PM Modi emphasized that textile units with an investment of ₹75 crore (US$ 8.64 million) can employ up to 2,000 people, underlining the sector’s employment potential.

Technical Textiles and Innovation in the Sector

As the industry evolves, technical textiles—including industrial fabrics, medical textiles, and geotextiles—are becoming increasingly important. PM Modi urged greater collaboration between the textile sector and premier institutions like the Indian Institutes of Technology (IITs) to foster innovation and research.

Conclusion: India’s Textile Future Looks Promising

With strong government support, rising foreign investments, and a focus on sustainability and innovation, India’s textile sector is well-positioned for exponential growth. The Cotton Mission, increasing textile exports, and investments in technical textiles will ensure that the ₹9 lakh crore export target is met ahead of schedule, making India a global textile powerhouse.

The Upcoming IPOs in this week and coming weeks are Swasth Foodtech, Beezaasan Explotech, HP Telecom India.

The Current active IPO are Royalarc Electrodes, Tejas Cargo India, Quality Power Electrical Equipments, L.K. Mehta, Shanmuga Hospital.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst.

Join our Finance Saathi Telegram Channel for Regular Share Market, News & IPO Update.