India's Textile Industry Set To Hit USD 350 Billion By 2030: Union Minister Giriraj Singh
(MENAFN- KNN India)
New Delhi, Sep
5 (KNN) Indian textile industry is projected to reach a valuation of USD 350 billion by 2030, potentially creating 35 million new jobs, according to Union Minister of Textiles, Giriraj Singh.
The minister made these remarks during the Curtain Raiser event for Bharat Tex 2025 in New Delhi.
Minister Singh expressed optimism about India's future recognition on the global stage, particularly for its 'Bharat' brand and environmentally sustainable textile products.
He highlighted the role of the government's Production Linked Incentive (PLI) scheme in bolstering the apparel industry's production capabilities and brand development.
The PLI scheme is expected to strengthen the textile value chain and attract foreign direct investment (FDI) to the country, Singh noted.
He also emphasised the importance of India's demographic dividend in potentially outpacing China's growth, urging state governments to actively participate in the upcoming Bharat Tex 2025 event.
Singh described the event as an embodiment of Prime Minister Narendra Modi's '5F vision' - Farm to Fibre to Factory to Fashion to Foreign.
This concept, he explained, encapsulates the principles of innovation, collaboration, and the 'Make in India' initiative.
The textile industry's projected growth and job creation potential underscore its significance in India's economic landscape. As the sector evolves, it will be crucial to monitor how these ambitious targets are pursued and realised in the coming years.
(KNN Bureau)
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