India Among Top Textile Exporters, Reports 7% Growth in 2024: Minister

India continues to be one of the leading textile-exporting nations, accounting for approximately 4% of global textiles and apparel exports, as per data presented in Parliament.

Minister of State for Textiles, Pabitra Margherita, stated in a written reply to the Lok Sabha that exports of textiles, apparel, and handicrafts grew by 7% in the April-December 2024 period compared to the same period the previous year. The United States, the European Union, and the United Kingdom collectively accounted for 53% of India's total textile exports in FY 2023-24.

The government is implementing several initiatives to strengthen the textile industry. Key schemes include:

PM MITRA Parks Scheme: Aimed at establishing modern and integrated textile infrastructure.

Production Linked Incentive (PLI) Scheme: Focused on MMF (Man-Made Fibre) fabric, MMF apparel, and technical textiles to boost large-scale manufacturing.

National Technical Textiles Mission: Promotes research, innovation, and market development.

SAMARTH Scheme: Provides demand-driven and placement-oriented skill training for the textile sector.

Silk Samagra-2: Supports the comprehensive development of the sericulture value chain.

National Handloom Development Programme: Offers end-to-end assistance to the handloom sector.

Handicrafts Promotion Schemes: Includes the National Handicrafts Development Programme and the Comprehensive Handicrafts Cluster Development Scheme.

Cotton Supply and Trade Agreements

To ensure a steady cotton supply and maintain farmers' interest in cotton cultivation, the government declares a Minimum Support Price (MSP) annually. This mechanism safeguards farmers against price fluctuations while ensuring competitive cotton prices for the industry.

Additionally, the customs duty on Extra-Long Staple (ELS) Cotton was eliminated on February 20, 2024. Under the India-Australia Economic Cooperation and Trade Agreement (ECTA), 51,000 tonnes of duty-free ELS cotton can now be imported.

Expanding Global Market Access

India has signed 14 Free Trade Agreements (FTAs) and six Preferential Trade Agreements (PTAs) to enhance export potential. Recent FTAs include deals with the UAE, Australia, and the TEPA agreement with EFTA countries (Switzerland, Iceland, Norway, and Liechtenstein).

Furthermore, the government is implementing the Rebate of State and Central Taxes and Levies (RoSCTL) scheme to boost apparel exports by ensuring zero-rated taxation.