PM Modi Sets Rs 9 Lakh Crore Target for Textile Exports by 2030

Prime Minister Narendra Modi on Sunday announced an ambitious goal of Rs 9 lakh crore as India's textile and apparel exports by 2030, three times the present Rs 3 lakh crore. He pointed to the large-scale employment in the industry, which has millions of workers.

While addressing the Bharat Tex 2025 exhibition, PM Modi asked the textiles sector to increase its annual growth rate of exports from the existing 7% to 17% in a bid to achieve this goal.

He also stated that the banking community would give priority to loans to the labor-intensive textile industry. His interactions with exhibitors at Bharat Tex indicated that even though there is a robust overseas demand for Indian goods, they cannot increase production at the required pace.

The Prime Minister pointed out that this requirement was clear from the attendance of more than 6,000 buyers from 126 nations at Bharat Tex 2025, which is now the biggest textile fair in the nation.

PM Modi hailed the success of the expo in offering Indian entrepreneurs a platform to shift from local to global by engaging with international buyers.

He also mentioned that the long-term vision of the government for the industry was evident in the new incentives proposed in the Budget for 2025-26. He emphasized the role of the textiles industry, the biggest employment generator in the country, in the achievement of the vision of Viksit Bharat (Developed India).

With more than 80% of the apparel and textiles industry consisting of MSMEs, PM Modi ensured that these firms would gain greater access to credit and eased loan rules. Moreover, MSMEs would get access to advantages in terms of skill development, which would also be available for the textiles industry.

PM Modi also referred to the Mission for Cotton Productivity, as specified in the Budget, whose objective is to provide a consistent supply of cotton and develop the value chain of the textiles industry to make it more competitive in the global market.

Finally, the Prime Minister urged the textile sector to join hands with IITs to embrace advanced technology and use AI in order to forecast trends in fashion and textiles and thereby spur additional growth.

“Earlier we wore what the world told us to wear but now we will tell the world what to wear,” PM Modi remarked.

PM Modi went on to reiterate that though the government is giving importance to technology and high-tech goods, it is also paying attention to showcasing India's handloom goods, which depict the rich heritage of the nation and hold good prospects in foreign markets. During the last decade, over 2,400 events have been held to sell handloom goods, and an attempt has been made to enhance their visibility on online platforms. Moreover, GI (Geographical Indication) labeling has also contributed significantly to boosting the sales of these products.

The Prime Minister also emphasized the need for recycling and upcycling waste in the textile industry as part of measures to save the environment and fight climate change. He mentioned that waste from the fashion industry contributes to 140 million tonnes of waste worldwide, of which less than 25% is recycled. He called upon India to become a torchbearer in this field, citing the fact that there is a potential market of $400 million for upcycling and recycling in India.

While on his tour to the Bharat Tex expo, PM Modi visited a number of stalls and interacted with exhibitors in order to understand the exhibition. More than 5,000 exhibitors are featuring products, with 6,000 foreign buyers in attendance.

Bharat Tex is the biggest and most integrated textile event, with a huge expo spread over two venues and encompassing the entire textile value chain. The international event, conducted from February 14-17 at Bharat Mandapam, has witnessed participation from nations such as Japan, UAE, Iran, the USA, Spain, and the UK.

Over 25 prominent international textile organizations and associations, such as the International Textile Manufacturers Federation (ITMF), International Cotton Advisory Committee (ICAC), EURATEX, Textile Exchange, and the US Fashion Industry Association (USFIA), are also included in the event.