India's textile industry targets $350 billion by 2030 as exports rebound, costs rise: Report
Reported by Economic Times Industry, not nibnow. We are not the publisher of this story, only the source is.
India's textile sector is scaling up rapidly toward a USD 350 billion target by 2030, driven by rising domestic demand and manufacturing investments. Understanding this growth trajectory is important for gauging shifts in global apparel supply chains and trade dynamics.
India's textile industry has seen significant growth, expanding to nearly USD 190 billion in FY26. The sector aims for USD 350 billion by 2030, driven by domestic demand and manufacturing investments. Despite challenges like rising cotton prices and trade uncertainties, textile exports grew by 10.3 percent year-on-year in the April-August 2026 period. Notably, the United States remains India's largest export destination, although market diversification is being pursued.
India is one of the world's largest producers and exporters of textiles and cotton, employing millions of workers across the agricultural and manufacturing value chain. The textile industry serves as a major pillar of India's manufacturing economy and export earnings.
- •Whether the industry sustains its 10.3 percent export growth rate amid ongoing trade uncertainties.
- •Fluctuations in global cotton prices and their impact on manufacturing margins.
- •Progress on market diversification efforts beyond the United States, which remains India's largest export destination.