India's textile industry grew by 7% last year (2024), becoming the world's sixth largest textile exporter
According to the Indian media Hindustan Times, Indian Prime Minister Modi said that he is pleased that India's textile industry will grow by 7% last year (2024), with exports reaching 3 trillion rupees (approximately US$36.1 billion), becoming the world's sixth largest textile exporter. The future goal is to further increase textile exports to 9 trillion rupees (approximately US$108.4 billion) by 2030, and hopes to accelerate the realization of this goal through the "Five F" strategy (Farm, Fiber, Factory, Fashion, Foreign Markets) and the US$7.5 billion global textile waste recycling business opportunity.
According to statistics, foreign investment in India's textile industry has doubled in the past 10 years. The industry contributes 11% of India's manufacturing output and employs a large number of employees. Prime Minister Modi emphasized that the "2025-26 Central General Budget" announced the promotion of the "Manufacturing Mission" to actively improve the business environment, provide abundant and skilled labor, support the development of micro and small enterprises, and pursue technology research and development and product quality to enhance the competitiveness of the textile industry; the five-year "Cotton Productivity Improvement Team" (Mission for Cotton Productivity) seeks to increase production and sustainability to ensure the supply of sufficient and good-quality raw materials for the textile industry.
India's Textiles & Apparel industry has a global market share of approximately 3.9%, and mainly exports to the United States and the European Union, accounting for 47% of exports. Affected by the political turmoil in Bangladesh, India's jute product exports reached US$36 million in October 2024, a 44% increase from the previous year; India's Ministry of Textiles (Ministry of txtiles) is planning to build 7 large-scale textile comprehensive parks to further enhance the integrity of the industrial chain.
Various textile machinery and equipment/Special textile equipment and accessories/Printing, dyeing and finishing equipment/Textile testing, analytical instruments/Auxiliary materials, dyes and oils/Chemical fiber production and processing equipment/Weaving and preparation equipment/Warp and weft knitting machines/Computer knitting machines/Cloth inspection machines/Computer color matching systems/Computer-aided design/Inspection and quality control equipment/Packaging equipment/Safety equipment.
