'From $170 Bn To $350 Bn...' - This Sector May Double By 2030: Top Govt Official

Rachna Shah, Secretary, Ministry of Textiles, Govt of India, on Wednesday said that textile is a massive $170 Billion sector, slated to grow to $350 billion by 2030. Stating that growing domestic demand is with rise in disposable income is reason behind projected growth, Shah said that currently, India has only 4 per cent of global exports, whereas global tre in textiles is at $ 44Bn in 2022 itself.

“ global tre in textiles is at $ 44Bn in 2022. We h two years dull due to geopolitical developments,” Shah said. She also ded that tre in apparel alone was at 35 per cent total.

FDI Investment Expected To Rise

“FDI h been 4.5 Bn$ since 2000,” Shah said, ding, "Manufacturing for local and global markets will attract investors”.

government is alrey taking required steps, like PM MITRA (PM Mega Integrated Textile Regions and Apparel) Mega Textile Parks, which are present in parks are located in Tamil Nu, Telangana, Gujarat, Karnataka, Mhya Presh, Uttar Presh, and Maharashtra.

Vision For A Progressive India

Shah furr said that government is investing Rs 10,000 cr in each of se parks. "se parks will create one lakh employment opportunities and will have modern world-class infrastructure. 
PLI (Public Linked Incentive)  Schemes in textiles force on sunrise sectors of textiles, investment to tune of 25,000 crores across fibers and textiles," Shah said.

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