The Road to $350 Billion
New tools like automation, IoT, and blockchain can improve efficiency and reduce waste, says Suparna Handa.
India’s textile industry is a big part of the economy, giving jobs to over 45 million people. It’s strong in cotton, silk, and technical fabrics but struggles with old technology and poor infrastructure. Government schemes like PM MITRA and PLI are helping, but there’s more to do in sustainability and technology.
Hurdles in the path
The industry faces problems like outdated infrastructure, global competition, and rising costs. Dependence on imported materials and lack of skilled workers make things harder. Schemes like RoSCTL and PLI help, but more innovation and investment are needed to hit the $350 billion goal.
Unlocking textile potential
There’s growth potential in technical textiles, eco-friendly fabrics, and online markets. Programs like PM MITRA parks can bring investment and upgrades. Global demand for sustainable products is rising, giving India a chance to lead in these areas.
Can India lead with sustainability?
Sustainability is key for India to compete globally. Eco-friendly production, less waste, and energy-saving methods are essential. Research in biodegradable and technical textiles can help. These efforts will make India stand out in the world market.
Smart tech for success
New tools like automation, IoT, and blockchain can improve efficiency and reduce waste. Better machines under the PLI scheme increase output. Digital tools ensure quality and cut costs. Technology is necessary to stay ahead globally.
Policies to boost textile growth
The government needs to improve infrastructure, train more workers, and increase funding for research. Export benefits should grow, and traditional crafts need more promotion worldwide. These steps will boost investment and make the sector stronger.
Next big thing in textiles
Eco-friendly fabrics, technical textiles, and digital printing are growing fast. Circular fashion and biodegradable products are also gaining attention. Investing in these areas can make India a leader. Government support will be important for success.
About the author:
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