Indian textile and apparel exports to touch US$ 300 bn by 2025
Invest India, the national investment promotion and facilitation agency predicts the textile
and apparel exports in India to reach US$ 300 billion by 2024-25.
The domestic textile and apparel industry including handicrafts was pegged at US$ 140
billion in 2018, of which US$ 100 billion was domestically consumed while the remaining
stock worth US$ 40 billion was exported to the world market.
The industry contributes 2.3 percent to India’s GDP and accounts for 13 percent of industrial
production, and 12 percent 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.