With rising per capita income, presently at $2,350, India boasts the second-largest working population with a median age of 28 years. The textile industry in India, thus, gains a pivotal role in knitting the tapestry of dynamism and growth of the sector with about 4.5% share in the global textile and apparel trade. With a diverse range of fabric and intrinsic craftsmanship, the handicrafts and handloom sector offers a great deal of opportunities wherein the products are exported to more than 100 countries.
Providing employment to over 45 Mn people, the textile industry that produces about 22,000 Mn pieces of garment per year, is set to gain momentum with market size reaching $350 Mn by 2030. With transformative changes in the textile sector, the government, in addition has also launched PM MITRA Park Scheme with an outlay of INR 4,445 Cr to create an integrated textiles value chain from spinning to manufacturing at a single location. Furthering the roadmap of growth, the India textile market is fifth in the world and the government is assisting to accelerate this growth to the level of 15-20% over the next five years. Moreover, the sector acts as a crucial link between the agriculture and industrial sector supporting the cultivation of Raw silk, cotton etc., thus bridging the gap.
Kasturi Cotton Bharat programme of the Ministry of Textiles is a first-of-its-kind branding, traceability and certification exercise carried out jointly by the Government of India, Trade Bodies and Industry to promote Indian Cotton. Stakeholders across the supply chain including farmers, Ginning Units, Spinning Mills, Processing Houses, Weaving Units, Garmenting Units, Home Textile manufacturers and even Retailers and Brands will be involved in a collaborative effort to promote and enhance the value of Indian Cotton across the domestic and overseas markets. The government has also taken key initiatives like the Production Linked Incentive Scheme for Textiles to promote the production of MMF Apparel, MMF Fabrics and products of Technical Textiles in the country. With a view to enhancing the skills of the workforce in the textile sector has formulated Samarth Scheme under a broad skilling policy framework with the objective of providing opportunities for sustainable livelihood.