Prime Minister Narendra Modi has set a target of Rs 9 lakh crore for India’s annual textile and apparel exports by 2030, aiming for a three-fold increase from the current Rs 3 lakh crore. He emphasized the significant job creation in the sector, which employs millions of workers.

Addressing the Bharat Tex 2025 expo, Modi urged the textile industry to boost the annual export growth rate from 7% to 17% in order to meet the new target. He also announced that the banking sector would prioritize loans to the labor-intensive textiles industry, as many exhibitors at the Bharat Tex expo reported challenges in expanding production despite high demand for Indian products.

The Bharat Tex expo, now the largest textile fair in India, saw participation from over 6,000 buyers across 126 countries, underscoring the global demand for Indian products. Modi highlighted that the government’s long-term vision for the textiles sector is reflected in the new Budget incentives aimed at fostering growth and innovation.

The majority of firms in the textile sector are MSMEs, which will benefit from easier access to credit and other government initiatives, such as skill development programs. Modi also mentioned the newly introduced Mission for Cotton Productivity, which aims to ensure a steady cotton supply and strengthen the value chain.

Modi urged the textile industry to collaborate with IITs for access to advanced technology and AI tools to forecast trends. He also highlighted the importance of promoting India’s handloom products in global markets, which are rich in cultural significance, and the role of e-commerce and GI tagging in expanding their reach.

The Prime Minister called for innovation in recycling and upcycling textile waste, citing the global fashion industry’s massive waste problem. He sees potential for India to lead the charge in recycling, which could unlock a $400 million market.

PM Modi concluded his visit to the Bharat Tex expo, where over 5,000 exhibitors and 6,000 international buyers are showcasing the entire textile ecosystem. Countries like Japan, UAE, USA, and the UK are participating in the event, which features a wide range of global textile associations and bodies.