Indian Textile Industry Poised to Reach $300 Billion by 2030
The Indian textile industry is on track to become a $300 billion sector by 2030, with expectations of $100 billion in exports, according to the government. Currently valued at $175 billion, including exports of $38-40 billion, the sector is emerging as a significant contributor to India's GDP.
Speaking at Assocham’s ‘Global Textile Sustainability Summit’ in New Delhi, Pabitra Margherita, Minister of State for Textiles and External Affairs, highlighted the pivotal role of sustainability in shaping the industry’s future. Margherita emphasized that India aims to lead in sustainable textiles, setting a global example for responsible practices.
"India’s textile sector presents unique opportunities to establish new standards for sustainability. It is essential that sustainability guides our progress, ensuring that the industry not only succeeds but also positively impacts the planet", Margherita said.
Rohit Kansal, Additional Secretary at the Ministry of Textiles, outlined four key trends driving the industry: a consistent domestic growth rate of approximately 8% CAGR, digitization, automation, and artificial intelligence. He noted that supportive policies such as the Production-Linked Incentive (PLI) scheme, PM Mega Integrated Textile Region and Apparel (PM MITRA) parks, and the National Technical Textile Mission (NTTM) are crucial for fostering infrastructure development, investment, and job creation in the sector.
Kansal also highlighted India's ambition to not only become a hub for sustainable textiles but also to inspire global responsibility in the industry. "The path to a sustainable textile industry is a shared journey that requires commitment, collaboration, and innovation", he added.
MS Dadu, Chairman of Assocham’s Textiles and Technical Textiles Council, emphasized that adopting advanced technologies like waterless dyeing, digital processing, and energy-efficient garmenting positions India as a global leader in textile innovation while respecting environmental concerns.
