PM Modi Expresses Confidence in Achieving Rs 9 Lakh Crore Textile Exports Before 2030 Deadline

Prime Minister Narendra Modi expressed satisfaction with the progress in India's textile sector. He is hopeful that the country will achieve its Rs 9 lakh crore annual export target before 2030. This goal aligns with the General Budget 2025's announcement of a five-year Cotton Mission, which aims to boost cotton productivity, particularly for extra-long staple varieties, with a Rs 500 crore allocation for the National Cotton Technology Mission.

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The Prime Minister highlighted India's current position as the sixth-largest exporter of textiles and apparel globally, with exports valued at around Rs 3 lakh crore. The aim is to triple this figure to reach Rs 9 lakh crore. "We are currently ranked as the 6th largest exporter of textiles and apparel in the world, with textile exports valued at approximately Rs 3 lakh crore. Our goal moving forward is to triple this figure and achieve exports worth Rs 9 lakh crore," he stated.

Textile Sector Growth and Opportunities

Modi noted that India's textile and apparel exports have grown by 7% due to consistent policies over the past decade. These efforts have doubled foreign investment in the sector. He also mentioned that India's textile recycling market could reach USD 400 million soon, while the global market is projected to hit USD 7.5 billion. With strategic direction, India could capture a larger market share.

The Prime Minister emphasised the importance of resource optimisation and waste reduction in the industry. He pointed out that fashion waste might reach 148 million tonnes by 2030, with one-fourth of textile waste currently not being recycled. "Our textile industry can turn this challenge into an opportunity," he said, stressing the need for innovation in waste management.

Technological Advancements and Collaborations

Modi urged the textile industry to collaborate with institutions like IITs to develop new tools and technologies. He mentioned that India is advancing in manufacturing high-grade carbon fibre and highlighted policy measures supporting the sector, such as those related to MSMEs announced in the Budget. The focus on technical textiles is also growing, with India making significant strides in this area.

The Prime Minister outlined his 5F vision for the textile sector: farm to fibre; fibre to factory; factory to fashion; fashion to foreign. This vision aims to create opportunities for farmers, weavers, designers, and traders. Modi also called on banks to understand the industry's needs and provide necessary support, noting that a single unit requires an investment of just Rs 75 crore but employs 2,000 people.

Bharat Tex Expo and Global Engagement

Bharat Tex, held in New Delhi from February 14-17, is a major event for the textile industry. Modi noted that more than 120 countries are participating, offering entrepreneurs a chance to expand their businesses globally. "Bharat Tex is giving an immense boost to investment, exports, and overall growth in the textiles sector," he said.

The Prime Minister highlighted efforts to promote handlooms through marketing initiatives. Over 2,400 events have been organised in the past decade to support handloom products benefiting from geographical indication (GI) tagging. He stressed the fusion of tradition and innovation, encouraging new products inspired by traditional wear that appeal globally.

Modi announced a memorandum of understanding between the textile ministry and other organisations to promote up-cycling. Pilot projects for collecting textile waste are underway in cities like Navi Mumbai and Bengaluru. He underlined that India's traditional sustainable techniques are now enhanced with modern technologies, benefiting artisans and millions involved in the industry.

The Prime Minister concluded by highlighting Bharat Tex as a platform for engagement among policymakers, CEOs, and industry leaders worldwide. He noted that India's sustainable techniques are being improved with advanced technologies, benefiting artisans and women associated with the industry.