Summary:

At the TEXPROCIL Export Awards in Mumbai, Union Finance Minister Nirmala Sitharaman called on India to fortify its textile value chain from "farm to fibre, factory, fashion and foreign markets" in order to create a globally competitive industry. In order to promote the Viksit Bharat vision for 2047, India hopes to reach US$100 billion in textile exports and US$250 billion in textile output by 2030. About six crore people are employed by the textile industry, which makes up 2.3% of the GDP and almost 12% of export revenue. In 2025–2026, textile exports totalled US$33.5 billion. The administration emphasised reforms including the Samarth Scheme, PM MITRA Parks, and GST. Seven PM MITRA parks are presently being developed nationwide, and investments have already been made.

Source: IBEF

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