Vishal Pacheriwal: We look forward to a budget that builds on previous initiatives

As India approaches the Union Budget 2026, Parnika India welcomes the Government’s steadfast commitment to strengthening the textile sector – one of the country’s largest employment generators and a key contributor to exports and GDP. In Budget 2025-26, the Ministry of Textiles saw its allocation rise to Rs 52.72 billion, marking a 19 per cent increase over the previous year, with the Production Linked Incentive (PLI) scheme for textiles receiving a significant boost to Rs 11.48 billion – up from just Rs 450 million in 2024-25. This enhanced support underscores the emphasis on scaling domestic manufacturing and improving global competitiveness. 

The Indian textile and ethnic wear industry is hopeful of continued policy support that strengthens manufacturing, exports, and employment generation. Textiles remain one of India’s most critical sectors, contributing significantly to exports and providing livelihoods to millions across the value chain. We look forward to a budget that builds on previous initiatives by enhancing access to affordable credit for MSMEs, encouraging technology adoption, and supporting modernisation of supply chains and logistics.

We look forward to further fiscal measures that enhance credit access for MSMEs, promote technological modernization, and expand export opportunities.

This view was presented by Vishal Pacheriwal, Managing Director of Parnika India