India's Textile Sector Aims To Reach $250 Billion By 2030 With $100 Billion Exports: Giriraj Singh

(MENAFN- IANS) New Delhi, Sep 10 (IANS) India's textile sector, valued at $179 billion with exports of $37.75 billion, aims to become the $250 billion domestic market with $100 billion exports by 2030, according to Union Minister Giriraj Singh.

The minister recalled that India's textile sector remains one of the proudest symbols of India's economic strength and cultural heritage.

Contributing nearly 2 per cent to GDP, the sector sustains India's position as the 6th largest exporter globally with a 4.1 per cent share in world trade.

“With exports to over 220 countries and more than 520 districts actively engaged, Indian textiles embody the vision of 'Atmanirbhar Bharat' and the timeless spirit of Swadeshi,” said the minister during a consultative meeting with micro, small and medium (MSME) exporters from across the textile and apparel value chain.

Despite global volatility and steep tariffs imposed by certain partners, India's textiles have displayed resilience, The July 2025 exports grew 5.37 per cent to $3.10 billion.

The April–July 2025 exports reached $12.18 billion, reflecting 3.87 per cent year-on-year growth.

Segment-wise, readymade garments (+7.87 per cent), carpets (+3.57 per cent), jute products (+15.78 per cent), with handicrafts and man-made fibre (MMF) textiles maintaining steady performance.

Singh underlined that positive trends in major FTA partner countries reaffirm India's ability to capture a greater share of the $590 billion global textile market.

He stressed the urgent need for strategic diversification into 40 identified global markets, while simultaneously deepening domestic demand.

The Union Minister also highlighted the transformative outcomes of the 56th GST Council meeting which ushered in second-generation GST rationalisation across the textile value chain. These reforms will reduce distortions, lower costs, stimulate demand, and enhance export competitiveness.

MSME textile exporters welcomed the reforms and emphasised the need for continued fiscal support, simplified compliance, and stronger global branding of handlooms, handicrafts, and GI-tagged Swadeshi products.

The Union Minister further encouraged the creation of warehouses in key global markets such as the EU, the US, and other strategic destinations, particularly to promote handicrafts, handlooms, and lifestyle products through e-commerce channels..

-IANS

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