India’s textile exports are expected to reach 100 million U.S. dollars

According to a report by India’s “Economic Times” on June 23, Gangwar, Minister of State for the Ministry of Textiles of India, recently stated that India’s textile exports are expected to reach US$50 billion this fiscal year. He also said that textiles have huge potential and the government will fully support the expansion of exports.
According to reports, the Ministry of Textiles hopes to establish 25-30 textile parks and several industrial clusters to develop the industry.
Industry insiders said that textile exports are currently in a promising situation after a long period of weakness and will grow rapidly in the next 3-5 years. The output value of India’s apparel industry is approximately 2 trillion rupees and is expected to double in the next five years.