India’s Textile Industry Aims For $100 Billion Exports By 2030, Seeks Policy Boost
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India’s textile industry has set an ambitious target of achieving $100 billion in exports by 2030, positioning itself as a global powerhouse in fabric and apparel manufacturing. However, industry leaders stress the need for crucial policy interventions, particularly the removal of the 10% import duty on all varieties of cotton fibers, to enhance the competitiveness of the entire cotton value chain.
The sector, which plays a vital role in India’s economy, faces a widening demand-supply gap. The latest government estimates indicate a shortfall of approximately 38 lakh bales for the current year, intensifying concerns over raw material availability and pricing pressures. Industry experts argue that eliminating the import duty on cotton would help bridge this gap and ensure a stable supply chain for textile manufacturers.
“With global competition intensifying, India must strengthen its raw material base. Removing the import duty on cotton will not only enhance cost competitiveness but also support the industry’s long-term growth,” said a senior industry official.
The call for policy changes comes at a time when India is looking to expand its footprint in international markets, leveraging its rich textile heritage, skilled workforce, and advanced manufacturing capabilities. Industry leaders believe that with the right policy support, India can compete with major exporters like China, Bangladesh, and Vietnam while fostering innovation and sustainability in textile production.
As the sector moves towards its ambitious export target, stakeholders urge the government to facilitate strategic reforms that will unlock new opportunities and strengthen India’s position as a global textile leader. With the right measures, the industry envisions a future where India is not just a key player but a dominant force in global textile trade.
05:21 PM, Mar 26
Source : India’s Textile Industry Aims For $100 Billion Exports By 2030, Seeks Policy Boost
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