India' s textile exports to grow to $100 bn by 2030: Piyush Goyal

The textile sector’s healthy growth will help India boost exports to $100 billion by 2030, says Piyush Goyal, Union Textile Minister. Zero duty access to the UAE and Australia markets will also help India emerge as a top textile exporter to these two countries. India is also trying to get zero duty access to the EU markets, Canada, the UK and GCC member countries. Last fiscal, it exported textiles worth $43 billion against $ 33 billion exported in the previous year.

The current geopolitical situation provides huge opportunities for the industry to boost exports, adds Goyal. He further emphasized on the need to promote cotton production in the country as current figure of about 500 kg per hectare is half the world's average. Goyal emphasized on the need to control current high cotton prices in order to benefit both farmers and the industry.