India’s textile exports to US, Europe cross $20 billion in FY25: Minister

New Delhi: India’s textile exports to key markets — the US, EU, and UK — reached $20.7 billion in the financial year 2024-25, Minister of State for Textiles Pabitra Margherita informed Parliament on Tuesday.

According to the minister, exports to the US stood at $10.94 billion, while shipments to the EU and the UK were $7.6 billion and $2.16 billion, respectively. He noted that while India has already signed a Free Trade Agreement (FTA) with the UK, negotiations with the EU are ongoing.

Exports of technical textiles also rose sharply, touching ?24,732.68 crore in FY25, up 15.5% from the previous year.

Highlighting the government’s efforts to boost the sector, the minister said India has signed 15 FTAs, including the recently concluded Comprehensive Economic and Trade Agreement (CETA) with the UK, aimed at reducing tariff and non-tariff barriers and improving competitiveness.

To strengthen the industry further, the government is implementing a Production Linked Incentive (PLI) Scheme for Textiles with an outlay of ?10,683 crore over five years, focusing on MMF apparel, MMF fabrics, and technical textiles. Additionally, the National Technical Textiles Mission (NTTM), launched for 2020-21 to 2025-26 with a fund of ?1,480 crore, seeks to accelerate growth in this segment.

Other measures include the RoSCTL scheme for garments and made-ups, the RoDTEP scheme for uncovered products, and the Advance Authorisation Scheme allowing duty-free imports of raw materials for exports.

The ministry has also supported trade bodies in organising global events, including Bharat TEX 2025, to showcase India’s textile value chain and position the country as a leading sourcing and investment hub for global players.

With inputs from IANS