India’s textile market has expanded from approximately ₹8.5 lakh crore in 2014–15 to over ₹16 lakh crore at present, according to Union Textiles Minister Giriraj Singh. Speaking at a media briefing in New Delhi to mark 12 years of achievements of the Modi government, the Minister outlined the sector’s growth trajectory and set a target to double the industry’s size by 2047.
Industry Growth Trajectory
The textile sector is the largest employment-generating industry in India after agriculture, Mr. Singh emphasised. The market size data reflects consistent expansion over the past decade. Below is a summary of the reported figures:
| Metric | 2014–15 | Current | Change |
|---|---|---|---|
| Textile market size | ₹8.5 lakh crore | Over ₹16 lakh crore | ~88% increase |
| Silk production | 26,480 metric tonnes | 42,005 metric tonnes | +58.6% |
| Silk imports | (baseline) | Declined by nearly 50% | Significant reduction |
Silk Production and Import Substitution
India’s silk production has risen sharply from 26,480 metric tonnes to 42,005 metric tonnes, while silk imports have fallen by nearly 50%, according to the Minister. This import substitution strengthens domestic supply chains and reduces foreign exchange outflows. The growth underscores policy efforts to boost indigenous raw material production for the textile value chain.
Global Export Reach
Mr. Singh noted that India now exports textile products to 191 countries, reflecting the sector’s expanding global footprint. While specific export value figures were not provided, the diversification of export destinations reduces dependence on any single market and enhances supply chain resilience for global buyers.
Employment and Policy Environment
Describing textiles as the largest job provider after agriculture, the Minister highlighted the sector’s role in rural and urban employment. The briefing was also addressed by Minister of State for Textile Pabitra Margherita and Secretary Neelam Shami Rao, signalling continued policy attention. The Modi government’s 12-year achievements include initiatives that have supported capacity expansion and market growth.
Target for 2047
A formal target has been set to double the size of the textile industry by 2047, which aligns with India’s broader economic ambitions. Achieving this will require sustained investment in manufacturing capacity, automation, and workforce upskilling. For industrial executives and plant managers, the growth outlook signals rising demand for machinery, raw materials, and process optimisation technologies.
The data presented by the Minister provides a baseline for procurement and capacity planning. With an 88% market size increase already achieved and a doubling target ahead, the textile sector offers substantial opportunities for OEMs, automation suppliers, and raw material providers. The import decline in silk also suggests growing self-sufficiency, which may influence sourcing strategies for fabric manufacturers.
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