India's textile industry targets USD 350 billion by 2030

India’s textile industry targets USD 350 billion by 2030 as cotton yarn prices climb 60 per cent to Rs. 400 per kg, exports to the US decline 7 per cent and manufacturers plan to diversify overseas markets. The industry was valued at nearly USD 190 billion in FY2026 and has set a target of USD 350 billion by 2030, according to Rubix Data Sciences.

Textile exports, including handicrafts, rose 10.3 per cent year-on-year during April-August 2026. The United States accounted for 31 per cent of India’s textile exports in FY2026, making it the largest destination for Indian textile shipments. The European Union accounted for nearly 16 per cent.