Home breadcru News breadcru Import/Exports breadcru Indian textile exports may cross $100 bn in 5 years: Secretary

Indian textile exports may cross $100 bn in 5 years: Secretary

23 Feb '22
2 min read
Pic: Shutterstock
Pic: Shutterstock

India should be in a position to breach $20 billion apparel exports by next fiscal or the year after that and the country’s textile exports can increase from the current $40 billion to $100 billion in the next five years, said Upendra Prasad Singh, secretary, Ministry of Textiles.

The apparel industry must focus on vertical integration to increase its scale and size and to benefit from the Production Linked Incentive (PLI) scheme, Singh said.

“Apparel and garmenting is not very investment centric, but it is very important from employment point of view. Perhaps, there is a need for backward integration and more of you can get into integrated value-chain like spinning and weaving,” he added.

The textiles secretary further said that along with the PLI scheme, the government is committed to make the Prime Minister Mega Integrated Textile Region and Apparel (PM MITRA) scheme a success. Idea is not to just have a world class infrastructure but also a thriving industry there.

Stating that textile has always been among the top priorities of the government, the secretary said, “There are a lot of big opportunities. The demand continues to be robust and the China plus one sourcing strategy by the west is certainly a great opportunity for us.”

It all depended on how good, efficient and integrated the Indian apparel industry is and how it increases its size and scale, Singh said while virtually addressing the 44th Foundation Day of Apparel Export Promotion Council (AEPC) on Tuesday.

ALCHEMPro News Desk (KD)

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