Free trade agreements (FTAs) under negotiation with the United States, the United Kingdom, and the European Union are expected to create fresh growth avenues for India's textile sector, according to Union Minister of State for Textiles, Pabitra Margherita.

Speaking at the inauguration of the 73rd edition of the India International Garment Fair (IIGF) at Yashobhoomi on Tuesday, the minister noted that the country’s textile exports have already surpassed USD 34 billion, and the goal is to triple that figure to USD 100 billion by 2030.

Highlighting the strategic importance of FTAs, Margherita stated, “On the trade front, the India-UK Free Trade Agreement and our ongoing negotiations with the EU and US will open new avenues for growth. 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 further shared that the textile and apparel industry makes a substantial contribution to the Indian economy, accounting for 2.3 per cent of GDP, 13 per cent of industrial output, and 12 per cent of exports.

“In 2023-24 alone, India exported textile products worth USD 34.4 billion, with apparel contributing 42 per cent to that total. We are targeting USD 100 billion in textile exports by 2030, and this vision requires the active participation of every MSME, entrepreneur, and exporter,” Margherita said, as quoted by the Apparel Export Promotion Council (AEPC) in an official release.

The ongoing three-day garment fair, organised by AEPC, has drawn participation from over 360 exhibitors across India, alongside buyers representing 80 countries.

Margherita described the event as Asia’s largest garment fair, one that showcases not only a wide spectrum of fabrics and fashion but also India’s rich creativity and craftsmanship.

This year’s IIGF is attracting buyers from a broad range of regions including North America, Latin America, Europe, Asia, Oceania, Africa, and Eurasia.

Given that over 80 per cent of India’s textile sector is driven by micro, small and medium enterprises (MSMEs), the minister underlined the need to enhance productivity, ensure a consistent raw material supply, and minimise import dependency to maintain global competitiveness.

AEPC Chairman Sudhir Sekhri also addressed the gathering, stating that the fair serves as a valuable platform for Indian apparel exporters to promote and grow ‘Made in India’ fashion globally.

“With the right policy support, innovation, and international collaborations, this could be the decade when India transforms into not just a volume exporter, but a global leader in value-added garment exports,” Sekhri remarked.

He projected India’s garment exports to touch USD 40 billion by 2030 and highlighted that the industry has already recorded a cumulative growth of 12.8 per cent in apparel exports during the first two months of FY2025-26.

“This performance is commendable, especially considering global challenges such as geopolitical conflicts in the Middle East and between Russia and Ukraine, logistical disruptions, tariff uncertainties from the US, and a slowdown in many international markets,” Sekhri concluded.