Reaffirming the Indian government’s commitment to expand its current textile market, Giriraj Singh, Union Minister of Textiles, affirms, the country will work towards increasing the industry’s market size to $300 billion by 2030. Additionally, it will also employ 60 million people in the textile value chain, he announced while inaugurating the new permanent campus of the Indian Institute of Handloom Technology in Fulia, Nadia, West Bengal.

Spanning 5.38 acre, the state-of-the-art campus has been constructed with an investment of 75.95 crores. It is equipped with all modern infrastructural facilities including smart classrooms, a digital library and advanced testing laboratories. The campus aims to serve as a model learning center and a Center of Excellence in handloom and textile technology, catering to students from West Bengal, Bihar, Jharkhand, and Sikkim.

Emphasizing on the government’s vision to expand India’s textile market to $300 billion, Singh highlights 11.56 per cent Y-o-Y growth in textile exports in October 2024. During the month, India’s apparel exports also increased by 35.06 per cent Y-o-Y to $1.23 billion, he adds. Meanwhile cumulative textile and apparel exports increased by 19.93 per cent in October 2024 compared to October 2023.

From Apr-Oct 2024, India’s textiles exports grew by 4.01 per cent compared to the same period in the previous year, while apparel exports registered an 11.60 per cent growth. Government’s investment promotion agency, Invest India predicts, India’s total textile exports will reach $65 billion by FY26.

Minister Singh expressed optimism, citing Prime Minister Narendra Modi’s leadership as a driving force behind the industry’s success, with continued growth in exports and technological advancements positioning India as a global leader in textiles.