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Apparel/Garments

India's RMG exports see 11% YoY growth in Aug 2024: Textiles ministry

10 Oct '24
1 min read
India's RMG exports see 11% YoY growth in Aug 2024: Textiles ministry
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Insights

  • India's readymade garments exports saw an 11-per cent YoY growth in August, the textiles ministry said.
  • The domestic textile sector is expected to grow to $350 billion by 2030, it noted.
  • Investment worth over ₹90,000 crore is expected to flow through the PM MITRA Park and the Production-Linked Incentive Scheme in the next three to five years.
India’s readymade garments (RMG) exports saw an 11-per cent year-on-year (YoY) growth in August this year, the textiles ministry said.

The domestic textile sector is expected to grow to $350 billion by 2030, it noted.

While investment worth over ₹90,000 crore is expected to flow through the PM Mega Integrated Textile Region and Apparel (PM MITRA) Park and the Production-Linked Incentive (PLI) Scheme in the next three to five years, schemes like the National Technical Textiles Mission (NTTM) are expected to help India acquire leadership position in emerging sectors like technical textiles, a release from the ministry said.

NTTM is a specialised mission focussed on developing usage of technical textiles in various flagship missions and programmes, including those in strategic sectors. It promotes start-ups and research projects.

ALCHEMPro News Desk (DS)
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