TEXPROCIL: Textile Sector could grow to $250 Bn & exports $100 Bn
29 August 2022, Mumbai
Upendra Prasad Singh, Textile Secretary stated that the government is looking at value-added exports like fabrics, made-ups & home textiles as exports of raw materials may not rise further due to increasing local demand.
While felicitating the winners of the TEXPROCIL Export Awards 2020 – 2021 on 23 rd August 2022 in Mumbai, he informed that the govt. has commissioned the PLI Scheme, MITRA Parks Scheme, GATI Shakti Scheme with a view to attracting investments in the sector, reforming infrastructure, and addressing logistic bottlenecks.
He also said that focusing on key growth areas like ‘sustainable textiles’, ‘technical textiles’ and ‘natural fibres’ and high-end technology is the success mantra for the future growth of the textile industry. Mr. Upendra Prasad Singh, Union Textile Secretary, and Ms. Roop Rashi, Textile Commissioner felicitated the winners of the TEXPROCIL EXPORT AWARDS 2020 – 2021 at Hotel President, Mumbai on 23 rd August 2020.
The Cotton Textiles Export Promotion Council (TEXPROCIL) distributed 61 awards to 45 companies in 33 categories. Shri Manoj Kumar Patodia, Chairman – TEXPROCIL stated that textile and apparel exports achieved their highest ever level in the year 2021 – 2022 with an export turnover of USD 44.4 Billion, growing by 40% over the previous year.
During the same period, the export of cotton textiles (including raw cotton) grew by 54%, reaching a level of USD 16.42 Billion. In the next 5 to 7 years, the Indian textile industry could expand in size to USD 250 Billion and achieve exports of USD 100 Billion.
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