Team Siliconindia

• India eyes $100B in textile exports by 2030, with FTAs under negotiation with the US, UK, and EU expected to unlock growth in value-conscious global markets.
• Union Minister Pabitra Margherita highlights the textile sector's key role 2.3 percent of GDP and 12 percent of exports with MSMEs central to export acceleration.
• At Asia’s largest garment fair, AEPC projects apparel exports to hit $40B by 2030, noting 12.8 percent growth in early FY2025-26 despite global headwinds.

Free trade pacts currently under negotiation with the United States, the United Kingdom, and the European Union should open new growth opportunities for India's textile industry, Union Minister of State for Textiles Pabitra Margherita was quoted as saying.

Addressing the inauguration of the 73rd edition of the India International Garment Fair (IIGF) at Yashobhoomi, the minister mentioned that the textile exports of the country have already touched USD 34 billion, and the target is to reach triple the amount of USD 100 billion by the year 2030.

Emphasizing the strategic value of FTAs, Margherita said, "From a trade perspective, the India-UK Free Trade Agreement and our current negotiations with the EU and US will create new opportunities for expansion. These are value-conscious, quality-sensitive markets, and we want to arm Indian exporters with the appropriate strategy, standards, and compliance to capitalize on these opportunities".

The minister went on to say that the textile and apparel sector contributes significantly to the Indian economy, with a contribution of 2.3 per cent of GDP, 13 per cent of industrial production, and 12 per cent of exports.

"In 2023-24 alone, India's textile product exports crossed USD 34.4 billion with apparel accounting for 42 per cent of the total. We are aiming for USD 100 billion in textile exports by 2030, and this vision needs to be achieved through the active contribution of every MSME, entrepreneur, and exporter", Margherita said, as quoted by the Apparel Export Promotion Council (AEPC) in an official release.

The ongoing three-day clothing fair, hosted by AEPC, has witnessed participation from more than 360 exhibitors from India, along with buyers from 80 nations.

Margherita labeled the fair as Asia's biggest garment fair, one that not just reflects a diverse range of fabrics and fashion but also India's creative arts and craftsmanship.

The IIGF this year is drawing in buyers from a wide spectrum of areas such as North America, Latin America, Europe, Asia, Oceania, Africa, and Eurasia.

Since more than 80 per cent of India's textile industry is dominated by Micro, Small and Medium Enterprises (MSMEs), the minister highlighted the importance of increasing productivity, having a regular raw material supply, and reducing import dependence to remain globally competitive.

AEPC Chairman Sudhir Sekhri also made a speech to the attendees, saying that the fair is an important platform for Indian apparel exporters to showcase and develop 'Made in India' fashion around the world.

"With the right policy support, innovation, and international partnerships, this could be the decade when India shifts from being a volume exporter to a global value-added garment export leader", Sekhri said.

He envisioned India's apparel exports reaching USD 40 billion by 2030 and underlined the fact that the industry has already achieved a cumulative growth of 12.8 percent in apparel exports in the first two months of FY2025-26.

This performance is creditable, given the world's issues like Middle Eastern and Russian-Ukrainian geopolitical conflicts, logistical dislocations, uncertainty of US tariffs, and slowing economic performance in most international markets", Sekhri said.