Indian Textile Industry Set to Reach $300 Billion: Union Minister – Giriraj
Union Textile Minister’s Vision
The Union Textile Minister, Giriraj Singh, announced that India’s textile market is expected to grow to $300 billion from the current $176 billion. He shared this exciting news during his visit to Hyderabad for the National Institute of Fashion Technology’s convocation ceremony.
Textile Department’s Growth Plan
The Textile Department aims to boost India’s textile market to $300 billion, with recent increases in textile and garment exports. In October, textile exports rose by 11% and garment exports by 35%. The Minister expressed confidence in reaching new heights under the leadership of PM Modi. 
Positive Export Trends
During October, textile exports from India increased by 11.56% to $1,833.95 million, while apparel exports grew by 35.06% to $1,227.44 million. Cumulatively, exports in October 2024 rose by 19.93% compared to the previous year.
Future Projections
Invest India projects that India’s textile exports will reach $65 billion by FY26, with the domestic market expected to grow to $350 billion by 2030. India’s textile industry is also a key player in the global market for personal protective equipment (PPE).
Employment Opportunities
The textile industry is a significant source of employment in India, providing direct jobs to 45 million individuals and supporting millions more in related sectors. Cotton cultivation alone supports millions of farmers and workers involved in processing and trade.
India’s Textile Industry
India is a major player in the global textile and apparel market, with a strong presence in both domestic and international sales. The country’s textile industry is poised for growth and expansion in the coming years. Some of the listed Indian companies are mentioned below:
| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | ROCE % | ROE % | Debt Rs.Cr. |
| 1 | Grasim Inds | 2683.9 | 38.53 | 180462.41 | 9.3 | 6.9 | 158159.5 |
| 2 | Trident | 38.01 | 60.15 | 19387.03 | 10.43 | 8.16 | 1613.51 |
| 3 | Welspun Living | 173.7 | 24.32 | 16876.2 | 16.1 | 15.62 | 3164.21 |
| 4 | Vardhman Textile | 530.75 | 19.26 | 15337.38 | 8.73 | 7.09 | 951.39 |
| 5 | Raymond Lifestyl | 2125.5 | 26.36 | 12941.45 | 2114.42 | ||
| 6 | Alok Industries | 23.96 | 11881.13 | -4.4 | 25928.63 | ||
| 7 | Arvind Ltd | 397.6 | 35.94 | 10409.03 | 13.08 | 9.73 | 1559.66 |
| 8 | Garware Tech. | 4841.1 | 42.63 | 9612.22 | 23.07 | 18.52 | 145.91 |
| 9 | Jindal Worldwide | 395.4 | 93.85 | 7939.81 | 9.83 | 11.05 | 860.31 |
| 10 | Indo Count Inds. | 387.3 | 24.8 | 7669.52 | 18.3 | 17.52 | 1461.38 |
| 11 | LS Industries | 84.06 | 7135.17 | -4.67 | -5.29 | 0 | |
| 12 | Lux Industries | 2034.65 | 38.47 | 6124.13 | 10.98 | 8.22 | 243.98 |
| 13 | Go Fashion (I) | 1090.25 | 68.6 | 5881.68 | 15.66 | 14.56 | 493.26 |
| 14 | Ganesha Ecosphe. | 2153.95 | 65.05 | 5463.39 | 7.92 | 4.71 | 485.91 |
| 15 | Jindal Poly Film | 1058.6 | 31.2 | 4636.63 | 3.15 | 1.74 | 4255.15 |
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