Modi says goal to triple exports citing policies over last decade
Prime Minister Narendra Modi expressed optimism on Sunday that India's textile sector will achieve an annual export target of Rs 9 lakh crore ahead of the 2030 deadline. (Image:DC)
New Delhi: Prime Minister Narendra Modi expressed optimism on Sunday that India's textile sector will achieve an annual export target of Rs 9 lakh crore ahead of the 2030 deadline. This goal gains added significance following the General Budget 2025 announcement of a five-year Cotton Mission aimed at boosting cotton productivity, especially extra-long staple varieties, and the allocation of Rs 500 crore for the National Cotton Technology Mission.
Speaking at Bharat Tex 2025, a mega global textile event showcasing India's cultural diversity through traditional garments, Modi said, “We are currently ranked as the 6th largest exporter of textiles and apparel in the world, with textile exports valued at approximately Rs 3 lakh crore. Our goal moving forward is to triple this figure and achieve exports worth Rs 9 lakh crore. This success is attributed to the hard work and consistent policies implemented over the past decade, which have led to a doubling of foreign investment in the textile sector during this period… I think we will achieve this target ahead of the 2030 deadline.”
The Prime Minister urged the youth to drive innovation by launching techno-textile startups and collaborating with institutions like IITs to develop new tools. He noted that the integration of technology, including AI, is playing a significant role in discovering new trends and styles, complementing the growing appreciation for traditional attire alongside modern fashion.
Highlighting the sector's importance, Modi mentioned that textiles generate significant employment and contribute 11 per cent to the manufacturing sector. The Union Budget for 2025-26 has increased the outlay for the Ministry of Textiles to Rs 5,272 crore, a 19 per cent rise from the previous fiscal year.
Bharat Tex, being held in New Delhi from February 14-17, is the largest textile industry event, with participation from over 120 nations and spanning two major venues. Modi also pointed out India's strides in manufacturing high-grade carbon fibre and urged the banking sector to support textile investments, noting that a single unit requires just Rs 75 crore and can create employment for 2,000 people.
“Our focus is on the technical textile sector; India is making its presence felt in this space,” he said. Outlining his 5F vision for the textile sector — farm to fibre, fibre to factory, factory to fashion, fashion to foreign — Modi emphasised that this vision is creating new opportunities for farmers, weavers, designers, and traders.
( Source : Deccan Chronicle )
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