Textile at 2030: $350 bln industry, Rs 90,000 cr investment, says govt

India’s textiles sector is expected to grow to $350 billion by 2030 and 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, textiles ministry said Thursday.

“India’s textiles sector is set for significant expansion, with an 11% year-on-year growth in readymade garments of all textiles exports…signaling a bright future,” the said, referring to the export numbers of August.

Seven PM Mitra parks are sanctioned across the country and each park is expected to attract an investment of Rs 10,000 crore. They are expected to generate nearly 1 lakh direct employment and 2 lakh indirect employment.


“PLI Scheme, with a total projected investment of over Rs. 28,000 crore, projected turnover of over Rs 2 lakh crore,” the ministry said, adding that the proposed employment generation of nearly 2.5 lakh is intended to promote production of manmade fibre (MMF) apparel and fabrics and technical textiles products in the country to enable textile industry to achieve size and scale.

As per the ministry, the encouraging reports of a number of investment decisions in the pipeline are “healthy portents for the industry”.