Textile Sector to Generate Employment for 1.5 Crore People
Union Textile Minister Giriraj Singh announced that the Ministry has prepared a roadmap for the next five years within the last 100 days, and work has already commenced according to this plan. He claimed that by 2030, the current business value of the textile sector, which stands at $165 billion, is targeted to reach $350 billion. Furthermore, the direct employment in this sector is expected to increase from the current 4.5 crore (45 million) to 6 crore (60 million), creating an additional 1.5 crore (15 million) new jobs.
To achieve this, the Ministry is focusing on enhancing silk production, technical textiles, PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks, man-made fiber, and textile startups. The Union Minister stated that the government will fully support the development of the textile sector in both domestic and global markets. He emphasized that countries like Vietnam and Bangladesh are not a challenge for India, as over 350 global brands manufacture their garments in India.
Key Targets and Initiatives
- 350 Global Brands: These brands manufacture their apparel in India, which positions India as a significant player in the global textile market.
- Increase in Exports: To boost exports, the government will organize events like India Tex in February next year. The export of technical textiles, which was negligible in 2014, has now reached $2.6 billion and is targeted to reach $10 billion by 2030.
- Investment and Employment in Textile Sector: Seven PM MITRA Parks will receive an investment of INR 70,000 crore (INR 700 billion), creating 21 lakh (2.1 million) jobs in the textile sector.
- Silk Production Expansion: A special scheme has been prepared for increasing silk production in Bhagalpur, Bihar, which will contribute significantly to the industry.
