Indian Textile Industry can reach $300 Billion by 2030: CII

Weaves 2019, a premier textile fair in the South, isa four-day exhibition and conference, organised by Texvalley in association with the CII.

Written by PTI

November 27, 2019 20:16 IST

The industry accounted for 5 per cent of Indias GDP and 13 per cent of the countrys export earnings and employed about 50 million people he said.

The Indian textile industry can become a USD 300 billion industry by 2030 and create an additional 35 million jobs, CII Tamil Nadu State Council Vice Chairman Hari Thiagarajan said on Wednesday.This can be achieved if the industry enhanced its focus on exporting highervalue added products, modernisationand sustainable business practices, Thiagarajan said at the 2nd Edition of Weaves 2019, organised at Erode, some 110 kmfrom here.

Synthetic fabrics and performance garments are goingto be the two most promising segments, he pointed out. The industry accounted for 5 per cent of Indias GDP and 13 per cent of the countrys export earnings and employed about 50 million people he said. Confederation of Indian Textile Industry (CITI) Chairman T Rajkumar said though global recession was a main factor for the setbacks faced by the industry, imports of yarns, fabrics, and garments from Bangladesh and SAARC region pose a major threat to the local industry.

Weaves 2019, a premier textile fair in the South, isa four-day exhibition and conference, organised by Texvalley in association with the CII.

This article was first uploaded on November twenty-seven, twenty nineteen, at sixteen minutes past eight in the night.