Growth Prospects for India's Textile Sector
The Indian textile sector is projected to achieve significant growth, with expectations to reach a value of $350 billion by 2030. This growth will be supported by targeted budgetary allocations, a dedicated cotton mission, and a focus on technical textiles and carbon fibre.
Technical Textiles and Carbon Fibre
- The export of technical textiles is expected to increase fourfold from the current $3 billion to $12 billion by 2030.
- Local manufacturing of carbon fibre is set to commence in 2026.
Promotion of Natural Fibres
- The ministry is promoting new blends of natural fibres, such as milkweed cotton and banana fibre, to boost local employment and exports.
Employment Generation
The sector is expected to generate 14 million additional jobs by 2026, increasing total employment in the industry to 6 crore.
Budgetary Support
- The budget allocation for the textiles ministry has increased by 19% to ₹5,272 crore for 2025-26, up from ₹4,417.03 crore for 2024-25.
- A five-year Cotton Mission has been announced with a budget of ₹500 crore to enhance cotton productivity.
- A provision of ₹1,500 crore is allocated for research and innovation in technical fibres.
Research and Development
A significant budget is dedicated to the research and development of new kinds of natural and blended fibres. These innovations will be showcased at the upcoming Bharat Tex, India's leading textiles event.
