Have India’s textile exports to the US and Europe crossed $20 billion in 2024-25?

New Delhi, Aug 19 (NationPress) India's textile product exports to the USA, the EU, and the UK reached an impressive $20.7 billion for the fiscal year concluding on March 31, 2025, as reported to Parliament on Tuesday.

The USA and the EU serve as pivotal markets for Indian textile goods.

For the fiscal year 2024-25, India's overall textile and apparel exports, including handicrafts, amounted to $10.94 billion for the US, while exports to the EU and the UK were valued at $7.6 billion and $2.16 billion respectively, according to Minister of State for Textiles Pabitra Margherita in a written response during the Lok Sabha session. He noted that India has finalized a Free Trade Agreement (FTA) with the UK and is actively pursuing FTA discussions with the EU.

India's technical textile exports reached Rs 24,732.68 crore in FY 2024-25, indicating a 15.53 percent increase compared to the previous fiscal year, the minister elaborated.

He emphasized that India has entered into 15 Free Trade Agreements, including the recently established CETA with the UK. These FTAs are designed to eliminate tariff and non-tariff barriers, streamline procedures, and tackle structural challenges to enhance the competitiveness of Indian exporters in their partner markets.

The minister also mentioned the government is rolling out the Production Linked Incentive (PLI) Scheme for Textiles, featuring an approved budget of Rs 10,683 crore over five years. This initiative aims to bolster the production of MMF apparel, MMF fabrics, and technical textiles within the country, enabling the textile sector to scale up and become more competitive.

To enhance the nation's technical textiles, the National Technical Textiles Mission (NTTM) was established for the period from 2020-21 to 2025-26, with a fund allocation of Rs 1,480 crore, the minister disclosed.

The government is consistently assessing export performance and implementing various strategies to elevate exports in collaboration with the Textiles Export Promotion Councils and Industry Associations.

Through the DGFT, the government manages the Advance Authorisation Scheme to facilitate duty-free imports of inputs that are physically incorporated into export products. In an effort to stimulate textile product exports, the government is executing the Rebate of State and Central Taxes and Levies (RoSCTL) scheme for apparel, garments, and made-ups to improve competitiveness through zero-rated exports.

Furthermore, textile products not encompassed by the RoSCTL scheme are included under the Remissions of Duties and Taxes on Exported Products (RoDTEP), along with other goods. The government also provides financial assistance to various Export Promotion Councils and Trade Bodies for organizing and participating in trade fairs, exhibitions, and buyer-seller meetings both nationally and internationally to boost exports.

The Textiles Ministry has backed Export Promotion Councils in hosting a Global Mega Textile Event, namely Bharat TEX 2025, to showcase the strength of the Indian textiles value chain, highlighting advancements in the textile and fashion industry while positioning India as the preferred hub for sourcing and investment in the textile sector, the minister added.