Wednesday, July 2, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Manufacturing

Manufacturing: 11% YoY growth in RMG of all Textiles exports; sector set to be $350bn by 2030

Fiinews by Fiinews
October 12, 2024
in Manufacturing
Reading Time: 2 mins read
A A
0
Bharat Tex Logo 2025 3
0
SHARES
18
VIEWS
LinkedinShare on Twitter

0:00

Ministry cites schemes and policy initiatives as part of Govt’s roadmap

Over Rs.90,000 crore of investment is expected to flow through PM Mega Integrated Textile Region and Apparel (PM MITRA) Park and Production Linked Incentive (PLI) Scheme in the next 3-5 years, making the sector a US$350 billion business, driven by India’s inherent strengths and a strong policy framework that encourages investment and exports bharat-tex .

The sector is set for significant expansion, with an 11% year-on-year growth in Ready-Made Garments (RMG) of all Textiles exports, as per India’s trade data of August 2024, and supported schemes like the National Technical Textiles Mission which are expected to help India acquire leadership position in emerging sectors such as technical textiles fieo.org .

With end-to-end value chain capability, a strong raw material base, a large export footprint and a vibrant and rapidly expanding domestic market, India is a traditional leader in the textiles sector. The encouraging reports of a number of investment decisions in the pipeline are healthy portents for the industry, the Ministry of Textile said on 10 Oct sbi.com.in .

“A number of schemes and policy initiatives as part of the government’s roadmap aim to leverage and catalyse these inherent strengths to help the textile sector achieve the US$350 billion goal by 2030,” the ministry said nseindia .

Last month, Prime Minister Narendra Modi laid the foundation stone of the PM MITRA Park at Amaravati in Maharashtra. This is one of the 7 Parks sanctioned across the country under the flagship PM MITRA Park scheme bseindia .

With world class infrastructure including plug and play facilities, PM MITRA Parks shall be a major step in realizing the vision of making India a global hub for textile manufacturing investment and exports. Each PM MITRA Park when complete is expected to attract an investment of Rs.10,000 crores and generate nearly 1 lakh direct employment and 2 lakh indirect employment.

PLI Scheme, with a total projected investment of over Rs.28,000 crore, projected turnover of over Rs.200,000 crore and proposed employment generation of nearly 2.5 lakhs is intended to promote production of MMF Apparel & Fabrics and Technical Textiles products in the country to enable textile industry to achieve size and scale, said the ministry.

The National Technical Textiles Mission is specialized mission with a focus on developing usage of technical textiles in various flagship missions and programmes of the country including strategic sectors. The Mission promotes startups and research projects covering specialty fibres and composites, geotextiles, agro textiles, protective textiles, medical textiles, defence textiles, sports textiles, and environment friendly textiles.

The supportive policy framework at the central level is supplemented by the policy initiatives of a number of states with a high growth potential in textiles, underlined the ministry. Fiinews.com

Tags: Ministry of Textile
ShareTweetShare

Related Posts

Ericsson
Manufacturing

Manufacturing: India benefits form global partners

by Fiinews
July 1, 2025
0
15

Ericsson, Apple, Google and Qualcomm contribute beyond investments Minister of Communications Jyotiraditya M. Scindia has underlined the transformative impact of...

Greenzo Energy
Manufacturing

Manufacturing: Greenzo to invest in electrolyser

by Fiinews
July 1, 2025
0
14

Agarwal committed to green hydrogen ecosystem, New Delhi's Greenzo Energy Ltd remains committed to delivering world-class indigenous solutions that put...

RRP S4E

Manufacturing: India to get Bulgarian technology

July 1, 2025
15
Ohmium

Manufacturing: Partnership for hydrogen solutions

June 29, 2025
13
Sekisui

Manufacturing: Sekisui expands capacity in Pune

June 26, 2025
13
EVIndia

Manufacturing: MHI launches EV SPMEPCI

June 25, 2025
13
SBI YONO

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Markets: Blue Dart maintains positive outlook on India

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Tech: Military-grade integrity for digital space
  • Tech: SatSure-Dhruva Space to work on value chain
  • Tech: WaveX invites startups to create AI-solution
  • Export: Govt to facilitate easy trade environment
  • Tender: India plans 5,000 km of waterways

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.