India's Textile Boom: Rs 95,000 Crore Investment Anticipated

India's textile sector is set to attract Rs 95,000 crore in investments through PM MITRA parks and the PLI scheme for man-made fabrics and technical textiles. The anticipated surge in foreign and domestic investments, spurred by government initiatives, underscores the industry's growth potential.

The Indian textile sector is poised for a substantial influx of investments, with projections reaching Rs 95,000 crore over the next three to five years. This growth is largely driven by the establishment of seven PM MITRA mega textile parks and the PLI scheme dedicated to man-made fabrics and technical textiles, as stated by Textiles Secretary Rachna Shah.

Beyond these initiatives, the sector is expected to benefit from foreign direct investment (FDI) and other channels. The government's focus on burgeoning areas like man-made fabric and technical textiles underscores its commitment to advancing these 'sunrise sectors.'

Noteworthy progress is anticipated from Bharat Tex 2025, a major textiles event scheduled for February next year, aimed at fostering investments and business growth, according to Shah. The event is part of a broader strategy to not only secure MoUs but also cultivate significant business opportunities.

(With inputs from agencies.)