Invest India posted on X: “Prime Minister Modi’s bold ‘fibre to fashion’ vision is guiding the textile industry to become a driving force in the global market while providing competition and technology to local players.”
According to Invest India, the national textile marketThe construction industry is expected to be worth around $165 billion in 2022, including $125 billion in domestic sales and $40 billion in exports. Projections indicate that the market will grow at a compound annual growth rate (CAGR) of 10% to reach $350 billion by 2030.
In addition to its achievements in the textile sector, India has emerged as the second largest manufacturer of personal protective equipment (PPE) globally. With over 600 certified companies producing PPE, India is well positioned in a market that is expected to surpass $92.5 billion by 2025, up from $52.7 billion in 2019.
The textile industry is also a major source of employment, providing direct jobs for 45 million people and another 100 million in related sectors. Cotton cultivation alone is estimated to support some 6 million farmers and 40-50 million people involved in its processing and marketing.
Several factors contribute to the growth of the industry, including India’s world-class infrastructure, a focus on technical textiles The sector is driven by demand from sectors such as automotive, healthcare and infrastructure, and the availability of raw materials and skilled labour. Competitive manufacturing costs and a growing retail landscape, including e-commerce, further enhance the attractiveness of the sector. To support this growth, the Indian government has introduced the Incentive linked to production (PLI) Scheme with an allocation of Rs 10,683 crore. This initiative aims at increasing the production of synthetic fibre garments (MMF), MMF fabrics and technical textiles. Under the PLI scheme, 64 applications have been approved, entailing a proposed investment of Rs 19,798 crore, with a projected turnover of Rs 1,93,926 crore and expected employment of 2,45,362 persons. Investments are particularly planned in Madhya Pradesh, Uttar Pradeshand Rajasthan.Foreign direct investment Foreign direct investment (FDI) in the textile sector remains robust, with 100% FDI allowed under the automatic route. From April 2000 to March 2024, India has attracted $4.47 billion of FDI in the textile sector, including dyed and printed fabrics.
Today, India is one of the largest producers of textiles and garments in the world, contributing approximately 2.3 percent to the country’s GDP, 13 percent to industrial production and 12 percent to exports.
The country has a 4 percent share of global textile and clothing trade, highlighting its important role in the international market.
The Indian textile sector is diverse and extensive. India is the world’s second largest producer of cotton and jute and the second largest producer of silk. Notably, India produces 95 percent of the world’s hand-woven textiles.
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