The government of India has recently announced a road map for the textile industry to reach US$100bn by 2030, implying a 19% CAGR over the next six years.
According to Indian business newspaper the Financial Express, this would not only include investments of close to ₹200k crore, but would provide direct employment for 3m people. Currently the global size of India’s textile trading industry is estimated at US$8bn, with its export contribution being around US$35bn.
Between 2001 and 2014, the country’s textile sector witnessed a 9% CAGR. But over the past decade textile exports stagnated due to the expiry of the
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