(MENAFN- AsiaNet News)

The Confederation of Indian Textile Industry (CITI) has welcomed the Union Cabinet's approval of the Export Promotion Mission, saying the decision will give a major push to India's textile and apparel sector.

A 'Much-Needed' Push for Global Competitiveness

In a press statement, CITI Chairman Ashwin Chandran said, "We convey our heartfelt gratitude to the Hon'ble Prime Minister and the Union Cabinet for this much-needed measure that will ensure that our textile and apparel sector can become globally competitive, better placed to leverage the opportunities opening through the FTAs, diversify into newer markets, and be able to create more and better-quality jobs for our young people." Referring to the ongoing optimism around the India-US trade deal, he added that "Coming in the backdrop of the optimism generated about the India-US trade deal being signed soon, the Export Promotion Mission announcement will further add to the feel-good factor for India's textile and apparel exporters."

Focus on MSMEs and Finance

CITI said the newly approved Export Promotion Mission is expected to help address structural challenges, especially those faced by MSMEs in accessing affordable finance. The industry body noted that MSMEs constitute the bulk of India's textile and apparel ecosystem.

Aiming for $100 Billion in Exports

India has set a target to more than double textile and apparel exports to USD 100 billion by 2030, compared to nearly USD 38 billion recorded in 2024-25.

Impact of US Tariffs on Exports

The statement also highlighted the adverse impact of the 50 per cent US tariff on Indian goods, effective August 27, which significantly hit export performance in September. The US accounts for around 28 per cent of India's textile and apparel export revenue, with shipments worth nearly USD 11 billion in 2024-25.

As per CITI's analysis, "In September 2025, Indian textile exports slid 10.45 per cent over the previous year, while apparel exports declined 10.14 per cent... Cumulative exports... declined 10.34 per crnt over September 2024." (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

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