India’s textiles and allied product exports were worth USD 30.4 billion in fiscal 2020-21, down by 10 percent from a year before due to the pandemic, according to the textile ministry, which recently said that in the first five months of this fiscal, such exports jumped by 87 percent on year to USD 16.6 billion, aided by strong economic recovery in key markets.
 

The government has set an ‘aspirational’ target of USD 100 billion for textiles and apparel exports over the next five years, Darshana Vikram Jardosh, minister of state for textiles, told an international conference on textiles and apparel organised by the Confederation of Indian Industry (CII) recently.

 

Earlier this month, the cabinet approved a scheme to incentivise investments in setting up mega textile parks to build scale in the fragmented sector. That followed a ₹10,683-crore production-linked incentive scheme for man-made fiber products and technical textiles.

 

Source: fiber2fashion.com