Union Finance Minister Sitharaman presided over the TEXPROCIL Export Awards 2023‑24 in Mumbai on 25 May 2026. The ceremony recognised top cotton‑textile exporters and launched the Advanced Certificate Program in International Trade (ACPIT).
Key Developments
- Launch of ACPIT to strengthen India’s export ecosystem.
- Announcement of a target of USD 100 billion in textile exports and USD 250 billion in textile production by 2030, aligning with the Viksit Bharat agenda.
- Recognition of exporters for performance, employment generation, innovation, ESG initiatives and e‑commerce excellence.
- Emphasis on the “farm‑to‑fibre‑factory‑fashion‑foreign markets” value chain to ensure a robust cotton yarn ecosystem.
Important Facts
India is now the sixth‑largest textile exporter globally. The sector directly or indirectly supports nearly six crore (60 million) livelihoods, contributes about 2.3 % to GDP, and accounts for ≈12 % of total export earnings. In 2025‑26, textile exports were around USD 33.5 billion. India is also the world’s second‑largest silk producer.
Key government initiatives cited by the Minister include:
- PM MITRA Scheme: seven textile parks under development with MoUs worth over ₹27,000 crore.
- Amended Technology Upgradation Fund Scheme (ATUFS) (2016) for technology upgrades.
- Samarth Scheme and its successor Samarth 2.0 for skilling.
- TEEM Scheme and the Tex‑Eco Initiative for sustainable practices.
Exam Relevance
These developments illustrate the interplay of fiscal policy, industrial strategy, and export promotion – core topics in GS III (Economy). Understanding the value‑chain approach helps answer questions on sectoral growth, employment generation, and India’s position in global trade. The emphasis on ESG, skill development, and infrastructure aligns with the GS IV (Ethics & Governance) focus on sustainable development and inclusive growth.
Way Forward
To achieve the $100 billion export goal, the Ministry must:
- Accelerate completion of PM MITRA parks and ensure they are equipped with modern technology.
- Scale up the ACPIT to train exporters in market intelligence, compliance and digital trade.
- Strengthen ESG compliance and promote certified brands like Kasturi Cotton to capture premium markets.
- Leverage the TEEM Scheme for small‑scale exporters and integrate it with the National Fibre Scheme for raw material security.
- Continue skill‑building under the Samarth Scheme to sustain employment.
Effective coordination between the Ministries of Finance, Textiles and Commerce will be crucial to translate policy intent into measurable export growth.