Textiles minister sets up 4 committees on market diversification

New Delhi: Despite global challenges, the Indian textile industry will achieve a target of $100 billion exports by 2030, textiles minister Giriraj Singh said Wednesday. Amid the US’ 50% steep tariffs, he setup four committees to submit recommendations on diversification into new markets, textiles ministry said in a statement.

These committees are on fiscal and ease of doing business measures, structural reforms in the textile value chain, enhancing cost competitiveness and innovation, and achieving $100 billion exports by 2030.

Singh chaired a high-level meeting with leading stakeholders from the textiles and apparel industry to review the evolving global trade situation, including the recent announcement of reciprocal tariffs by the US, and to chart a confident, future-oriented strategy for the sector.


“The minister urged exporters to actively explore the EU, which collectively imports textiles worth $268.8 billion—more than twice the size of the US market. India is actively engaged in FTA negotiations with EU,” the ministry said.

Textiles would be one of the worst impacted sectors due to the tariffs.

Last week, US President Donald Trump signed an executive order doubling the tariffs on US’ imports from India to 50%, the highest on any country and at par with Brazil, in a move marking an escalation of trade tensions between the two countries.

While the initial 25% duty came into effect last week, the additional 25% is effective August 27.