Textile Commissioner Roop Rashi has said that investments in the textile industry have increased after being slow over the past few years. According to Rashi, a number of textile and clothing companies that participated in the recently finished Bharat Tex event in New Delhi announced that they were investing.
Indian producers of textile machinery ought to take advantage of their benefits in textile engineering and produce textile machinery domestically for every link in the supply chain. “We ought to have circular, sustainable textiles,” she stated.
According to her, a surplus of about 29 lakh bales of cotton is anticipated to be produced during the 2024–2025 cotton season. Cotton shortages are therefore unlikely to affect the textile industry, she said.
Banks should be crucial in supplying the credit requirements of the industry, which employs 5.4 crore people and whose market is expected to increase from USD 172 billion to USD 350 billion by 2030, mentioned Textile Commissioner Roop Rashi.
Rashi emphasised the Government’s numerous efforts to support sustainable textile clusters. Over 47 patents throughout the textile value chain have received government backing, she said, and these must be commercialised.
In South Korea, Japan, and South East Asia, Rashi recommended textile units look into possible export areas. Japan has recently expressed a renewed interest in Indian textile products, she explicitly mentioned.
