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India’s textile industry to grow to $350 billion by 2030: TEXPROCIL

  

From $197 billion in 2023, the Indian textile industry is poised to grow to $350 billion by 2030, expanding at a CAGR of 10.1 per cent. Driven by a focus on sustainability and technological advancements, the industry is undergoing a significant transformation. As per a report by Texprocil, the sector is embracing sustainable materials, fibers, and eco-friendly production methods to reduce its environmental footprint while enhancing its global competitiveness.

This rapid growth in textile production, coupled with the increased adoption of synthetic fibres, has raised environmental concerns. Over the last 15 years, garment production in India has doubled, while the lifespan of garments has decreased by 36 per cent with only 1 per cent of fibers being recycled into clothing. The industry consumes significant resources, generating substantial wastewater and pollution. To address these challenges, manufacturers are adopting innovative practices like recycling, upcycling, water conservation, and renewable energy use. Companies like Welspun are shifting to solar and wind energy, while BRFL Textiles has developed waterless dyeing techniques to minimise environmental impact.

The government too has introduced several initiatives to foster sustainable practices in the industry. It has launched programs like the Sustainable Resolution (SU.RE) and PM MITRA to promote eco-friendly manufacturing and the circular economy, while the Production-Linked Incentive (PLI) scheme incentivises domestic production. The amended Technology Upgradation Fund Scheme (A-TUFS) further supports modernisation through financial incentives. The government is also setting up seven textile parks under the PM MITRA scheme to enhance industry efficiency and sustainability.

Despite these advancements, the industry continues to face certain challenges. The decentralised supply chain, limited technical expertise, and stiff competition hinder the widespread adoption of sustainable practices. However, collaboration among manufacturers and resource-sharing initiatives are fostering innovation and cost-effective green solutions.

 
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