India is developing a plan to modernize the textile industry

India has drawn up a roadmap to create 4.5-6 crore jobs in the textile sector by 2030 so that the market size increases to $350 billion from around $165 billion today, Indian Textile Minister Giriraj Singh said.

Addressing a press conference in New Delhi on Friday on the Ministry of Textiles’ 100-day program, Singh said, “The 100-day action plan prepared by us includes (attracting) investments to create 4.5 to 6 crore jobs by 2030 r..”

He said the seven pre-approved integrated mega textile parks, once fully functional, would attract investments worth Rs 70,000 crore, thereby creating 21 lakh jobs.

Setting a target of producing 50,000 tonnes in the long run, the minister said silk cultivation involves huge job creation as around one crore people are associated with the sector.

Singh also said that Vietnam and Bangladesh have never posed a challenge to India’s textile exports.

“An unnecessary fear psychosis is being created over the events in Bangladesh which are posing a challenge to the Indian textile industry.”

Singh said India has huge potential for technical textiles as they are used in all sectors and set an export target of $10 billion by 2030.

He said that artisans worth one crore are associated with the handloom and handicrafts sector and the textile ministry is taking various initiatives to boost the sector.

As part of the government’s plan for the textile sector, the ministry of textiles has launched several initiatives in the first 100 days of this government, covering all segments of the textile sector – infrastructure, technical textiles, research and development, start-ups, empowerment of artisans/weavers and strengthening natural fiber sectors , such as silk and jute.

On September 20 this year, Indian Prime Minister Narendra Modi laid the foundation stone of a 1,000-acre integrated textile and apparel park in Amravati, Maharashtra, which aims to make India a global textile production and export hub.

The park will help create world-class industrial infrastructure that will attract large-scale investment, including foreign direct investment, and encourage innovation and job creation in the sector, Singh said.