The government has set a target to double the revenues from the textile industry to the tune of USD 300 bn by 2025 from the present USD 150 bn, a top official in the ministry said today.
The industry as of now is generating USD 150 bn, with domestic market standing at USD 110 bn and exports USD 40 bn, Textile Commissioner Kavita Gupta said here.
To achieve the target, the productivity and yield levels of cotton fibre and synthetic will have to be stepped up, Kavita told reporters.
Stating that the annual production of cotton textiles was 6.5 billion KGs, while synthetic textiles at 2.5 billion kgs, she said that the industry has to increase the production of synthetic clothes manifold to double the revenues.
"We will be able to produce eight billion kgs of cotton textiles by improving productivity and yield levels and for the remaining, only synthetic (textiles) will be able to fulfill," she said.
Synthetic textiles accounted for 70 per cent of the overall textiles production while cotton constituted only 30 per cent in the world, whereas in India, cotton still accounted for 70 per cent, Kavita said.
The investment in the garment and made-up sector was estimated at about Rs 30,000 cr and there was scope for further investment with huge opportunity in technical textile she said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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