National/Business Desk
17 February
Ludhiana
Sandeep Dhand
Prime Minister Narendra Modi has expressed confidence that India will achieve its target of Rs 9 lakh crore in annual textile exports before 2030. Speaking at the India Textile 2025 event, he highlighted that India is currently the sixth-largest textile and apparel exporter, with exports worth around Rs 3 lakh crore. He believes that at the current pace, the target will be met even before the deadline.
Modi emphasized that India Textile 2025 has become a major global event, attracting participation from over 120 countries. He also mentioned that India is making progress in producing high-grade carbon fiber, which will further boost the sector.
The Prime Minister urged the banking sector to support textile businesses, noting that setting up a textile unit requires an investment of Rs 75 crore and creates employment for around 2,000 people. He highlighted the potential of the sector in generating jobs and strengthening the economy.
Modi also outlined his ‘5F approach’ for the textile industry: Farm to Fiber, Fiber to Factory, Factory to Fashion, and Fashion to Foreign. He explained that this strategy is creating new opportunities for farmers, weavers, designers, and traders, ensuring a strong supply chain from raw materials to global markets.
With increasing global demand and government support, Modi is optimistic that India’s textile industry will grow rapidly, benefiting millions of people and making the country a major textile hub in the world.