India’s textile sector expected to grow $350 billion by 2030

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.