India’s textile exports are expected to reach US $ 65 billion by the fiscal year 2025–2026, according to Invest India, indicating the country’s rapidly growing textile industry.
According to Invest India report projections, the country’s textile production for both local and international markets is expected to expand at a compound annual growth rate (CAGR) of ten percent, reaching US $ 350 billion by 2030.
The amount has been projected to reflect the approximate US $ 165 billion size of the Indian textile and apparel sector in 2022, of which US $ 125 billion will come from domestic sales and US $ 40 billion from exports.
“PM Modi’s bold fibre-to-fashion vision is guiding the textile industry to become a driving force in the global market while bringing competence and technology to local players,” Invest India said in a post on social media platform X.
The availability of raw materials and trained labour, together with India’s top-notch infrastructure and a focus on technical textiles due to demand from the automotive, healthcare, and infrastructure sectors, are some of the drivers driving the industry’s growth, according to the report.
The Indian textile sector has benefited from the government’s introduction of the Production Linked Incentive (PLI) Scheme, which was allocated Rs 10,683 crore. The program intends to increase the manufacturing of technical textiles and clothing made of man-made fibres.
With a planned investment of Rs 19,798 crore, 64 applications under the PLI scheme have been approved. The scheme is expected to generate employment for 2,45,362 people and have a projected revenue of Rs 1,93,926 crore. The strategy has been successful in drawing significant FDI into the textile industry. Rajasthan, Uttar Pradesh, and Madhya Pradesh are the destinations of projected investments.
India received US $ 4.47 billion in FDI in textiles between April 2000 and March 2024, including textiles that were printed and coloured.
