Union Textile Minister Giriraj Singh announced that India’s textile market is set to expand from $176 billion to $300 billion, reflecting a strong growth trajectory under PM Modi’s leadership. Speaking at the National Institute of Fashion Technology (NIFT) convocation in Hyderabad, Singh highlighted the sector’s potential to drive employment, noting that each NIFT graduate could generate jobs for up to 100 people.
India’s textile and apparel exports saw impressive growth in October 2024, with textile exports increasing by 11.56% to $1,833.95 million and apparel exports surging by 35.06% to $1,227.44 million compared to October 2023. Cumulative exports in October 2024 rose by nearly 20% year-on-year. From April to October 2024, textile exports grew by 4.01%, while apparel exports rose by 11.6%.
Projections from Invest India suggest that India’s textile exports could reach $65 billion by FY26. The domestic textile market, valued at $165 billion in 2022, is expected to grow at a 10% annual rate to hit $350 billion by 2030.
India has also become the second-largest global producer of personal protective equipment (PPE), with over 600 certified manufacturers. The PPE market is projected to exceed $92.5 billion by 2025, up from $52.7 billion in 2019.
The textile industry plays a vital role in India’s economy, employing 45 million people directly and 100 million in related sectors. Cotton farming alone supports 6 million farmers and millions more in processing and trade. As one of the world’s largest textile producers, India is well-positioned for continued growth and global leadership in the industry.
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