Indian govt forms 4 panels to drive textile sector reforms
Emphasising the '5F' approach—Farm to Fibre to Factory to Fashion to Foreign—Singh underscored the need to diversify the export basket, enhance product competitiveness, and tap into new and under-served markets, the Ministry of Textiles said in a press release.
Indian Minister of Textiles Giriraj Singh met industry leaders to address global trade challenges, including US tariffs, and announced four committees to drive market diversification, reforms, and competitiveness. Emphasising the '5F' approach, he urged focus on the EU market and FTAs. With $37.7 billion exports in 2024â€'25, he expressed confidence in achieving $100 billion exports by 2030.
He urged exporters to actively explore the European Union market, which collectively imports textiles worth $268.8 billion—more than twice the size of the US market. India has signed 15 Free Trade Agreements (FTAs) with partner countries whose combined textile import demand stands at $198.9 billion and is actively engaged in FTA negotiations with the EU.
He also highlighted that the government aims to strengthen domestic value addition, promote sustainable manufacturing, and reinforce India's global reputation for quality. Singh expressed confidence that, with united industry-government efforts and a focus on innovation, India will reach its $100 billion export target by 2030 despite global uncertainties.
India, the world's sixth-largest exporter with a 4.1 per cent global share, shipped $37.7 billion worth of textiles and apparel in 2024–25, contributing 8.63 per cent to total merchandise exports. While the US accounts for 28.97 per cent of textile exports, it forms just 6 per cent of the overall $179 billion industry, where domestic demand has surged in the past decade, added the release.
Fibre2Fashion News Desk (SG)
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