India's textile industry grows to Rs. 16.79 lakh crore in FY26

India’s textile industry expanded to nearly Rs. 16.79 lakh crore (US$ 190 billion) in FY26 and aims to reach Rs. 33.27 lakh crore (US$ 350 billion) by 2030, driven by domestic demand, manufacturing investments and export opportunities, according to a report by Rubix Data Sciences. Textile exports, including handicrafts, grew by 10.30% year-on-year during April–August 2026.

Imports increased by 17.10% to Rs. 84,835.2 crore (US$ 9.60 billion) in FY26, although exports remained nearly 3.7 times the value of imports. The Central Government is considering a five-year Textile Expansion and Employment (TEEM) Scheme with an outlay of Rs. 40,000 crore (US$ 4.21 billion) to modernise machinery, introduce advanced technologies and upgrade traditional textile clusters.