Emphasis on India's $100 Billion Textile Export Target at TEXPROCIL Awards Ceremony
Exporters demonstrating outstanding performance in India's cotton textile export sector were honored at the TEXPROCIL Export Awards 2023–24 ceremony, organized by TEXPROCIL in Mumbai. The event was presided over by the Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman. During the ceremony, TEXPROCIL awards were presented to exporters who made exceptional contributions in the areas of export performance, job creation, innovation, ESG initiatives, and e-commerce.
On this occasion, the Finance Minister also launched the "Advanced Certificate Program in International Trade" (ACPIT). This initiative by TEXPROCIL has been introduced with the objective of strengthening India's export ecosystem and enhancing its competitiveness in global trade. The program has been designed to align with various government schemes and policy initiatives.
In her address, Mrs. Sitharaman emphasized the need to empower the entire textile value chain—spanning "from farm to fiber, from factory to fashion, and to foreign markets." Citing India's ancient weaving and textile traditions, she noted that this heritage continues to reinforce the country's global identity to this day. She reiterated the target of boosting India's textile exports to US$ 100 billion and total textile production to US$ 250 billion by the year 2030.
The Finance Minister highlighted that India currently stands as the world's sixth-largest textile exporter. This sector directly and indirectly employs approximately 60 million people, contributes about 2.3 percent to the GDP, and accounts for a share of roughly 12 percent in the country's total export earnings.
Vijay Agarwal, Chairman of TEXPROCIL, stated that the 2,000 exporters affiliated with the Council contribute approximately US$ 11 billion to exports and serve as the source of livelihood for nearly 35 million people. He also underscored the necessity of strengthening India's sustainable textile identity on the global stage through the "Kasturi Cotton" brand.
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