Road map prepared to create up to 6 crore jobs in textiles sector by 2030: Union Minister for Textile Mr. Giriraj Singh

The government has developed a comprehensive roadmap to create 4.5 to 6 crore jobs in the textile sector by 2030, Union Minister for Textile Mr. Giriraj Singh announced. He highlighted the goal of increasing the sector's market size to US$ 350 billion, up from approximately US$ 165 billion. During a press conference regarding the Ministry of Textiles' 100-day program, he stated, "The roadmap we have prepared includes attracting investment amounting to lakhs of crores in the textile sector." He mentioned that the 7 PM-MITRA integrated mega textile parks approved earlier will entail investments of US$ 8.37 billion (Rs. 70,000 crore) when fully operational, generating around 21 lakh jobs. He contrasted the Prime Minister Mr. Narendra Modi government’s proactive approach, claiming they did little in the initial 3 months of their tenure. "In contrast, the Prime Minister Mr. Narendra Modi government has initiated a roadmap for development within the first 3 months," he remarked.

He also noted the importance of producing man-made fabrics, including synthetic, viscose, and natural fibres, to achieve the targeted market size of US$ 350 billion. He pointed out that over 350 global brands sourced their clothing from India and emphasized the need to consider export figures and domestic demand. However, India’s textile exports have faced challenges, declining for the second consecutive year in 2023-24. The government aims to reach an ambitious target of US$ 100 billion in textile product exports by 2030, despite a 3.24% decrease in textile and apparel exports for FY24, totalling US$ 34.4 billion, down from US$ 35.5 billion in the previous year. He reiterated the commitment to promoting the "Make in India" initiative for textiles, asserting that neither Bangladesh nor Vietnam presents a significant challenge to the domestic industry. "We are promoting Make in India for the textiles sector to meet the demands of our growing population," he stated, highlighting that over 21 crore people have been born in India over the last decade. He concluded by announcing the approval of a scheme to revive Bhagalpur's silk industry.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.