Demand for Indian readymade garments increased abroad
India’s textiles sector is poised for remarkable growth, with a projected target of reaching USD 350 billion by the year 2030. This expansion is bolstered by an impressive 11% year-on-year growth in the exports of Ready-Made Garments (RMG) and is supported by various governmental initiatives aimed at enhancing the competitiveness of India’s textile industry on a global scale. The RMG sector has seen a significant uptick, achieving an 11% increase in exports as of August 20241. This robust growth is indicative of the resilience and recovery of India’s textile industry, significantly contributing to the overall sector’s expansion.
With a favorable policy environment and robust growth in RMG exports, India’s textiles sector is set to enhance its contribution to the economy significantly, aiming for USD 350 billion by 2030. This transformation is underpinned by strong governmental backing, increased foreign investment, and India’s unique advantages in textile manufacturing. As domestic and international demands evolve, India’s strategic initiatives are likely to position it as a leading global player in the textile industry in the coming years.
