Government Targets Rs 33 Lakh Crore Textile Market By 2030-31
The Centre has set an ambitious target to double the size of India’s textile and apparel sector to Rs 33 lakh crore by 2030-31, up from the current Rs 16 lakh crore, Union Textiles Minister Giriraj Singh announced on June 11.
Addressing a press conference in New Delhi, Singh highlighted the sector’s strong growth over the past decade, noting that employment has increased from 2.8 crore in 2014 to 5.3 crore in 2024-25. The industry is expected to generate nearly 2 crore additional jobs over the next three years.
The minister also outlined efforts to improve the livelihoods of handloom weavers by raising their annual income to Rs 5 lakh through initiatives focused on skill development, access to quality raw materials, design innovation, technology adoption and expanded market opportunities.
Textiles Secretary Neelam Shami Rao said the sector continues to play a vital role in women’s empowerment by creating employment and encouraging entrepreneurship. She noted that India’s domestic textile market has expanded from around Rs 6 lakh crore in 2014-15 to over Rs 16 lakh crore today.
Singh attributed part of the sector’s growth prospects to India’s expanding network of free trade agreements, which now covers 56 countries through 18 pacts, compared to 19 countries under 10 agreements in 2014.
He also highlighted the rapid growth of the technical textiles segment, which has expanded to a US$ 25 billion market. Meanwhile, the government has allocated over Rs 3,335 crore to support the handloom and handicrafts sectors.
