Free trade agreements (FTAs) with the US, UK and European Union (EU) will open new opportunities for the textiles sector in India, Minister of State for Textiles Pabitra Margherita said recently. He also said the country’s textiles exports have crossed $34 bn, and it is aiming to reach $100 bn by 2030. “On the trade front, the India-UK Free Trade Agreement and our ongoing negotiations with the EU and US will open new avenues for growth.
“These are high-value, quality-conscious markets, and we are committed to equipping Indian exporters with the right strategy, standards, and compliance to seize these opportunities,” he said.
Inaugurating the 73rd Edition of India International Garment Fair (IIGF) here at Yashobhoomi, Margherita said the textile and apparel industry contributes 2.3 per cent to India’s GDP, 13 per cent to industrial production, and 12 per cent to exports.
“In 2023-24 alone, we exported textile products worth USD 34.4 billion, with apparel accounting for 42 per cent of that. We now aim to cross USD 100 billion in textile exports by 2030, and every MSME, every entrepreneur, and every exporter has a role in achieving this,” Apparel Export Promotion Council (AEPC) quotes the minister as saying in a statement.
AEPC is organising this three-day fair where more than 360 exhibitors from across the country and buyers from 80 countries are participating.
Margherita also said it is Asia’s largest garment fair, showcasing not only fabrics and fashion, but also creativity and craftsmanship.
This year, buyers are coming from various countries and regions, including North America, Latin America, Europe, Asia, Oceania, Africa, and Eurasia.
With over 80 per cent of India’s textile sector being MSME-driven, it is important to focus on boosting productivity, ensuring steady raw material supply, and reducing import dependence to stay competitive, the minister said.
Speaking on the occasion, AEPC Chairman Sudhir Sekhri said IIGF will provide a platform for the Indian apparel exporters to capitalise on ‘Made in India’ brands.
“With the right policy push, innovation, and global partnerships, this could be the decade where India emerges not just as a volume player, but a value-added global garment exports powerhouse,” he said.
India’s garment exports are poised to touch USD 40 billion by 2030. The 12.8 per cent cumulative growth of the first two months of 2025-26 in apparel exports is a testament to this progress.
“This is despite the global headwinds such as war in the Middle East, war between Russia and Ukraine, global logistical challenge, tariff uncertainty by the US and slowdown in many global markets,” Sekhri said.
