Prime Minister Narendra Modi on Monday said that the government is working on expanding the role of the textiles sector in the journey of India becoming a developed nation by 2047. He added that the valuation of Indian textiles market has crossed ₹12 lakh crore and has seen doubling of FDI in the past ten years.
Speaking at the inaugural session of Bharat Tex 2024, Prime Minister Modi said, “We have resolved to make India a developed nation (Viksit Bharat) by 2047. We are working in a very wide ambit to further expand the role of the textiles sector in building a developed India. India’s textile sector is deeply connected with the four main pillars of Viksit Bharat namely poor, youth, farmers and women. We are focussing on tradition, technology, talent and training.”
He pointed out that the emphasis is on updating traditional designs to meet the demands of the contemporary world. Keeping in mind the concept of Five Fs - Farm to Fiber, Fiber to Factory, Factory to Fashion, Fashion to Foreign—which are elements of the entire value chain, he said that the government is encouraging farmers, MSMEs, weavers and exporters.
The Prime Minister stated that the valuation of the Indian textiles market has crossed ₹12 lakh from less than ₹7 lakh crore in 2014. There has been a nearly 25 per cent increase in production of yarn, fabric and apparel production. 380 new BIS standards are ensuring quality control in the sector. This has led to doubling of FDI in the sector in the last 10 years, added.
Value chain ecosystem
He said that the establishment of seven PM MITRA Parks in various States will create new opportunities for the textile sector. “Our endeavour is to establish the entire value chain ecosystem in a single place where modern infrastructure with plug and play facilities are made available. This will not only improve scale of operations but also bring down logistics costs,”Modi explained.
Referring to the employment potential and participation of the rural population and women in textiles sectors, the Prime Minister said that 7 out of 10 apparel makers are women and in handloom, the number is even higher. He emphasised that the steps taken in the last 10 years by the government has not only made Khadi a strong medium of development and jobs but has also grown India’s profile in cotton, jute and silk.
PM Modi said that the government is supporting cotton farmers and is buying cotton from them. He said Kasturi Cotton, launched by the government, will be ”a big step” in creating India’s brand value globally. He added that India is also focusing on emerging sectors such as technical textiles offering scope for new start-ups.
He added that on one hand while there is growing focus on technology and mechanisation on the other hand there is also demand for uniqueness and authenticity and India has a place where both these demands can co-exist.
“Today a people’s movement is going on in the country for ‘Vocal for Local and Local to Global’,” he said while stating that the Indian textile sector should focus on tapping into the potential of exports. The PM underlined that the government is readily available to function as a catalyst and work towards fulfilling the dreams of the people, as he urged the industries to come forward with a new vision that caters to the world’s needs and diversifies their markets.