Govt prepares road map for creating 4.5-6 crore jobs in textile sector by 2030: Giriraj Singh
Efforts are being made to take the sector's market size to $350 billion from around $165 billion at present
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Union Minister Giriraj Singh has said that the government has prepared a road map for creating 4.5-6 crore jobs in the textile sector by 2030. He also asserted that efforts are being made to take the sector's market size to $350 billion from around $165 billion at present. He noted that the seven PM-MITRA integrated mega textile parks approved earlier will have investment to the tune of Rs 70,000 crore when fully functional, thereby creating 21 lakh jobs.
The minister said that there are plans to take the size of India's textile sector to $350 billion. He said ‘to reach a size of $350 billion in the coming days, we need man-made fabric, whether it be synthetic, viscose or natural fibre, we are preparing for everything.’ He added that over 350 brands globally procure clothes from India and one should look not just the export figures but domestic numbers also.
Singh said notably, India's textiles exports declined for the second year in a row in 2023-24. The government has set an ambitious target to achieve $100 billion export for textile products by 2030. Exports of textiles and apparel from India during FY24 fell 3.24 per cent at $34.4 billion, as compared to $35.5 billion a year ago. He stated that efforts are underway to promote Make in India for the textiles sector, adding that neither Bangladesh nor Vietnam poses a challenge to the domestic industry.