India’s textile and apparel exports to reach USD 300 bn by FY25: Invest India


PTI, Jan 13, 2020, 5:38 PM IST

New Delhi: India’s textile and apparel exports are expected to touch USD 300 billion by 2024-25, resulting in a tripling of the country’s market share globally from 5 per cent to 15 per cent, according to Invest India, the national investment promotion and facilitation agency.

The domestic textile and apparel industry including handicrafts stood at USD 140 billion in 2018, of which USD 100 billion was domestically consumed while the remaining portion worth USD 40 billion was exported to the world market. The textile and garments industry in India is expected to reach USD 223 billion by 2021.

The textiles and apparel industry contributes 2.3 per cent to India’s GDP and accounts for 13 per cent of industrial production, and 12 per cent of the country’s export earnings.

It is the second-largest employer in the country providing employment to 45 million people at present, and this number is expected to rise to 55 million people by the end of 2020.

FDI in the textiles and apparel industry stood at USD 3.1 billion during 2018-19.

India is the largest producer of cotton and jute in the world, and the second-largest producer of polyester, silk and fibre.

Invest India, set up in 2009, is a non-profit venture under the Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, Government of India.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

CBDT allows tax officials to waive or reduce interest due from assessee

Like UP, bring BJP to power in Jharkhand to ‘bulldoze’ mafia: Yogi at Koderma poll rally

Govt asks Wikipedia why it should not be treated as publisher instead of intermediary

Karnataka HC issues notice to CM, others on plea seeking transfer of MUDA case to CBI

SC upholds validity of UP madrassa law, says it does not violate principle of secularism

Bantwal: Theft at Shree Mahalingeshwar temple

States not empowered to take over all private properties for distribution to serve common good: SC

Related Articles More

CBDT allows tax officials to waive or reduce interest due from assessee

Markets fall in early trade amid unabated foreign fund outflows

New software for fast-tracking project approvals: Karnataka Minister Patil

In-flight passengers can access WiFi services only when allowed, say new rules

SEBI mulls separation of non-regulated activities; ‘cross-default’ definition for debenture trustees

MUST WATCH

Gho Pooja in Deepavali Festival

Melukote Deepavali

Ganapathi Co-operative Society Ltd

Udayavani Chinnara Banna 2024

Annapoorna Aahar | Food Places In Mysore


Latest Additions

CBDT allows tax officials to waive or reduce interest due from assessee

Like UP, bring BJP to power in Jharkhand to ‘bulldoze’ mafia: Yogi at Koderma poll rally

Govt asks Wikipedia why it should not be treated as publisher instead of intermediary

Karnataka HC issues notice to CM, others on plea seeking transfer of MUDA case to CBI

SC upholds validity of UP madrassa law, says it does not violate principle of secularism

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.