India's textile market to hit $300 billion by 2030, create 60 million jobs: Union Minister Giriraj Singh
Union Minister of Textiles Giriraj Singh stated that the textile ministry is committed to helping the industry to reach the market size of $300 billion in year 2030 and provide employment to 6 crore persons in textile value chain.
FollowIn a landmark move to bolster India's textile industry, Union Textile Minister Giriraj Singh inaugurated a state-of-the-art permanent campus of the Indian Institute of Handloom Technology (IIHT) in Phulia, Nadia district, West Bengal, on Sunday. The cutting-edge facility, sprawling across 5.38 acres and built at a cost of Rs 75.95 crores, is poised to revolutionize textile education and industry in the region.
Vision for 2030: $300 billion industry & 60 million jobs
Giriraj Singh emphasized the government's ambitious vision of expanding the Indian textile industry to a $300 billion (₹25.74 lakh crore) market by 2030, generating employment opportunities for over 60 million people.
Addressing the gathering, he stated, “Under the leadership of Prime Minister Narendra Modi, the textile sector is witnessing unprecedented growth. We are committed to scaling new heights and positioning India as a global textile hub.”
Empowering youth with cutting-edge education
The newly inaugurated IIHT campus is equipped with modern amenities, including smart classrooms, a digital library, and advanced laboratories, designed to provide world-class education in handloom and textile technology. The institute aims to benefit aspiring students from West Bengal and neighboring states such as Bihar, Jharkhand, and Sikkim by equipping them with skills essential for thriving careers in the textile sector.
Current market dynamics and exponential growth
India's textile market currently stands at $176 billion (₹15.10 lakh crore). The Ministry of Textiles has made significant strides, including a remarkable 11% growth in textile exports and a 35% surge in garment exports recorded in October.
Exports for the month reached $1,833.95 million (₹15,728 crore) for textiles and $1,227.44 million (₹10,528 crore) for garments. Singh credited this growth to favorable policies and robust leadership at the helm.
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