ADITYA RAJ DAS / NEW DELHI
India’s textile sector is expected to grow to nearly 350 billion dollars by 2030. As per the country’s trade data for August 2024, the sector has seen 11 per cent year-on-year growth in ready-made garments.
The Ministry of Textiles, in a statement, said that the Government of India aims to achieve this goal by leveraging a number of schemes and policy initiatives. It said that over 90 thousand crore rupees of investment is expected to flow through the PM Mega Integrated Textile Region and Apparel (PM MITRA) Park and Production Linked Incentive (PLI) schemes in the next three to five years. The ministry also mentioned that schemes such as the National Technical Textiles Mission are expected to help India acquire a top leadership position
A number of schemes and policy initiatives as part of the government’s roadmap aim to leverage and catalyse these inherent strengths to help the textile sector achieve the USD 350 billion goal by 2030. While over Rs. 90,000 Crore of investment is expected to flow through PM Mega Integrated Textile Region and Apparel (PM MITRA) Park and Production Linked Incentive (PLI) Scheme in the next 3-5 years, schemes like the National Technical Textiles Mission are expected to help India acquire leadership position in emerging sectors such as technical textiles.
Last month, Prime Minister Shri Narendra Modi laid the foundation stone of the PM MITRA Park at Amaravati in Maharashtra. This is one of the 7 Parks sanctioned across the country under the flagship PM MITRA Park scheme. With world class infrastructure including plug and play facilities, PM MITRA Parks shall be a major step in realizing the vision of making India a global hub for textile manufacturing investment and exports. Each PM MITRA Park when complete is expected to attract an investment of Rs 10,000 crores and generate nearly 1 lakh direct employment & 2 lakh indirect employment.
PLI Scheme, with a total projected investment of over Rs. 28,000 crore, projected turnover of over Rs. 2,00,000 crore and proposed employment generation of nearly 2.5 lakhs is intended to promote production of MMF Apparel & Fabrics and Technical Textiles products in the country to enable textile industry to achieve size and scale.
The National Technical Textiles Mission is specialized mission with a focus on developing usage of technical textiles in various flagship missions and programmes of the country including strategic sectors. The Mission promotes startups and research projects covering specialty fibres and composites, geotextiles, agro textiles, protective textiles, medical textiles, defence textiles, sports textiles, and environment friendly textiles.
The supportive policy framework at the central level is supplemented by the policy initiatives of a number of states with a high growth potential in textiles.