Market News
Stay updated with the latest market trends, earnings, and economic indicators.
Textiles minister Giriraj Singh targets ₹33 lakh crore textile market by FY31
India's textile market is set to double to ₹33 lakh crore by 2030-31. This growth will create nearly 2 crore new jobs. The government is also working to increase handloom weavers' income to ₹5 lakh. Trade agreements are expanding, opening new export avenues. India is becoming a significant player in technical textiles.
Targeting to increase India's textile market size to Rs 33 lakh crore by FY2031: Giriraj Singh
India aims to significantly boost its textile market to Rs 33 lakh crore by 2030-31. The government is focused on enhancing the income of handloom weavers to Rs 5 lakh annually through training and market access. Employment in the textile sector has already seen substantial growth. The sector is poised to create millions of new jobs in the coming years.
Centre to expand product coverage under Rs 10,683 crore textile PLI, says Giriraj Singh
The government plans to broaden the Production Linked Incentive scheme for textiles. This expansion will include man-made fibre apparel, fabrics, and technical textiles. The move aims to boost the industry, attract investment, and accelerate growth. It also supports job creation and India's global textile market position. Discussions were held with the footwear industry regarding raw material issues.
India must make garments for all seasons: Giriraj Singh
India sets its sights on transforming into a $350 billion textile powerhouse with $100 billion in exports by the fiscal year 2030-31. To achieve this ambitious target, the industry must elevate its operations to scale up production, enhance value, and streamline garment manufacturing year-round. Moreover, leveraging free trade agreements for market access is crucial.
India's textile recycling market projected to reach $3.5 bn by 2030, may add 1 lakh jobs: Report
Textiles Minister Giriraj Singh said that India's textile sector, one of the largest in the world, has significant potential to lead the global transition towards sustainable and circular production systems.