The ministry also noted that several major investment plans are in the pipeline, signaling a healthy future for India’s textile industry. India’s Textile Industry Poised for $350 Billion Growth by 2030, Rs 90,000 Crore Investment Expected
India’s textile sector is projected to grow into a $350 billion industry by 2030, with over Rs 90,000 crore expected to be invested in the next 3-5 years through initiatives like the PM Mega Integrated Textile Region and Apparel (PM MITRA) Park and the Production Linked Incentive (PLI) scheme, the Ministry of Textiles announced on Thursday.
The ministry highlighted that India's textile sector is experiencing robust expansion, with a 11% year-on-year growth in readymade garment exports across all textile categories. The promising August export figures underscore the sector’s bright outlook.
Seven PM MITRA parks have been approved across the country, each expected to attract investments of Rs 10,000 crore. These parks are forecasted to generate nearly 1 lakh direct jobs and 2 lakh indirect jobs.
Additionally, the PLI scheme is projected to drive investments of over Rs 28,000 crore, with a potential turnover of more than Rs 2 lakh crore. The initiative aims to create around 2.5 lakh jobs by boosting the production of man-made fiber (MMF) apparel, fabrics, and technical textile products, helping the industry scale and achieve greater global competitiveness.
The ministry also noted that several major investment plans are in the pipeline, signaling a healthy future for India’s textile industry.
Read More :> Government Sets Target of 1,000 kg Cotton Yield per Hectare for 11 States: Giriraj Singh
