India-UK FTA, deals negotiated with EU, US to push textiles growth
Union Minister of State for Textiles Pabitra Margherita
The India-UK Free Trade Agreement, and the ongoing free trade negotiations with the EU and the US will open new avenues for growth for the textiles sector, Minister of State for Textiles Pabitra Margherita has said.
“These are high-value, quality-conscious markets, and we are committed to equipping Indian exporters with the right strategy, standards and compliance to seize these opportunities,” the Minister said at the inauguration of the 73rd Edition of India International Garment Fair (IIGF) on Tuesday.
More than 360 exhibitors from across the country and buyers from 80 countries are participating in IIGF, per a statement issued by the Apparel Exports Promotion Council (AEPC). Foreign participants are from all parts of the globe spanning North America, Latin America, Europe, Asia, Oceania, Africa and Eurasia.
“In 2023-24 alone, India exported textile products worth $34.4 billion, with apparel accounting for 42 per cent of that. We now aim to cross $100 billion in textile exports by 2030, and every MSME, every entrepreneur, every exporter has a role in achieving this,” Margherita said.
The textile and apparel industry contributes 2.3 per cent to India’s GDP, 13 per cent to industrial production and 12 per cent to exports.
Exports to grow
Despite geo-political disturbances, global logistical challenge and the US tariff uncertainty, garments exports from India had posted a growth of over 12 per cent (year on year) in the first two months of the fiscal at a cumulative $2.88 billion and may touch new highs in the current fiscal, according to Sudhir Sekhri, Chairman, AEPC.
The 73rd edition of IIGF focuses on showcasing latest apparel trends tailored to meet the requirements of the European Union, the US, and other western markets, Sekhri said. “A large number of them are based on sustainable manufacturing practices. This year’s event will highlight India’s prowess in design, pattern and technological advancements, reflecting our unwavering commitment to innovation and responsible production,” he added.
Published on July 1, 2025
