FM Sitharaman Pushes ‘Farm to Foreign Markets’ Textile Vision
Finance Minister launches TEXPROCIL trade programme, targets $100 billion textile exports by 2030
- Nirmala Sitharaman addresses TEXPROCIL Export Awards in Mumbai
- Government targets $100 billion textile exports by 2030
- FM launches advanced certificate programme in international trade
- TEXPROCIL honours top cotton textile exporters for 2023–24
GG News Bureau
Mumbai, 25th May: Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Monday called for strengthening India’s textile value chain “from farm to fibre, factory, fashion and foreign markets” while addressing the TEXPROCIL Export Awards 2023–24 ceremony in Mumbai.
The event was organised by the Cotton Textiles Export Promotion Council to honour outstanding performers in India’s cotton textile export sector.
During the ceremony, the Finance Minister distributed awards to exporters for excellence in exports, employment generation, innovation, ESG initiatives and e-commerce performance.
Sitharaman also launched the Advanced Certificate Programme in International Trade (ACPIT), a structured certification initiative aimed at strengthening India’s export ecosystem and enhancing global trade competitiveness.
Addressing industry representatives, the Finance Minister highlighted India’s rich textile heritage dating back to the Sindhu-Saraswati civilisation and stressed the need for ambitious growth targets to achieve the vision of Viksit Bharat by 2047.
She said India aims to achieve $100 billion in textile exports and $250 billion in textile production by 2030.
The minister noted that India has emerged as the world’s sixth-largest textile exporter and that the sector supports nearly six crore livelihoods directly and indirectly.
According to the minister, the textile industry contributes around 2.3 per cent to India’s GDP and accounts for nearly 12 per cent of the country’s export earnings.
She added that India’s textile exports reached approximately $33.5 billion during 2025–26.
Sitharaman said the government under Prime Minister Narendra Modi has implemented multiple structural reforms since 2014 to strengthen the textile sector.
These include GST reforms, subsidy support, the PM MITRA Parks initiative and the Samarth Scheme focused on skill development and empowerment.
She said seven world-class textile parks are being developed under the PM MITRA scheme with investment memorandums worth over ₹27,000 crore already signed.
The minister also highlighted the Amended Technology Upgradation Fund Scheme (ATUFS), launched in 2016, which provides financial support for technology modernisation in the sector.
Textile Commissioner Vrunda Desai thanked the Finance Minister for initiatives announced in the Union Budget, including the Textile Expansion and Employment Mission, National Fibre Scheme, Tex-Eco Initiative and Samarth 2.0.
TEXPROCIL Chairman Vijay Agarwal said the organisation’s 2,000 exporters contribute nearly $11 billion in exports and support around 35 million jobs through the wider cotton textile ecosystem.
He also highlighted TEXPROCIL’s efforts to promote the Indian cotton brand “Kasturi Cotton” through branding, certification and traceability initiatives.
