India To Aim For $350 Billion Textile Market And Millions Of New Jobs, Says Giriraj Singh
While the government has set an ambitious target to touch $ 100 billion export by 2030, India's textiles exports in FY24 has declined for the second straight year.
Union Minister Giriraj Singh highlighted that the seven PM-MITRA integrated mega textile parks, once fully operational, will attract around Rs 70,000 crore in investment and create approximately 21 lakh jobs.
(Source: Deepak Rautela/Unsplash)
The government has outlined a roadmap to generate 4.5 to 6 crore jobs in the textile sector by 2030, according to Union Minister Giriraj Singh. He further added that the government has plans to boost the market size from approximately $165 billion to $350 billion.
Speaking at a press conference on Friday on the Ministry of Textiles' 100-day program, Singh noted, "The 100-day road map we have prepared includes (attracting) investment to the tune of lakhs of crores (in the textile sector) going forward. We have prepared a road map for the creation of 4.5 crore to 6 crore jobs by 2030."
He also highlighted that the seven PM-MITRA integrated mega textile parks, once fully operational, will attract around Rs 70,000 crore in investment and create approximately 21 lakh jobs.
"To reach a size of $350 billion in the coming days, we need man-made fabric, whether it be synthetic, viscose or natural fibre; we are preparing for everything," said the minister. He further said that over 350 brands globally procure clothes from India and one should look not just at the export figures but at the at the domestic numbers also.
While the government has set an ambitious target to touch $100 billion in exports by 2030, India's textiles exports in the financial year 2023-24 have declined for the second straight year. The exports of textiles and apparel also saw a 3.24% drop at $34.4 billion, as compared to $35.5 billion a year ago.
Singh stated that efforts are underway to promote Make in India for the textiles sector, adding that neither Bangladesh nor Vietnam pose a challenge to the domestic industry.
"We are promoting Make in India for the country's textiles sector (to meet the demand of a growing population). It is a different matter that our population increases by more than the size of Australia's population every year. In the last ten years, more than 21 crore people were born (in India)," he said.
"I would like to state clearly that neither Bangladesh nor Vietnam was ever a challenge for me.... There is this havoc being created about Bangladesh (posing a challenge to India's textile industry)," the minister added.
Singh, who represents the Begusarai electoral constituency in Bihar, said a scheme has been approved for the revival of Bhagalpur's silk industry.
(With Input From PTI)
