New Delhi: India ndia must move towards higher scale, higher value and 12-month garment manufacturing to achieve a $350 billion textile economy and $100 billion exports by 2030-31, textiles minister Giriraj Singh said on Wednesday. He also asked industry to capture at least $200 billion from the $465 billion market access provided by free trade agreements. “Currently, much of India’s production is oriented towards summer garments, catering to roughly eight months of global demand. Going forward, the industry must expand capabilities to produce garments suitable for all twelve months,” Singh said while launching the third edition of Bharat Tex.On long-term ambition for the sector, he said India’s share in the global textile trade should increase to 14.7% from 4.7% now.
Stressing that India must diversify into technical textiles, value-added garments and innovative textile products, the minister said such a transition would enable India to serve a wider range of international markets and enhance its competitiveness. Bharat Tex, scheduled for July 14-17, is a platform to connect Indian manufacturers with international buyers and investors, Singh said.
This edition of the global textile fair is expected to witness large-scale participation of more than 3,500 business exhibitors, over 7,000 international buyers from more than 140 countries and over 130,000 trade visitors.
