Government of India Wants to Create 75 Textile Hubs like Tiruppur: Piyush Goyal
29 June 2022: The Government of India wants to create 75 Textile hubs like Tiruppur which will not only support textile product exports and ensure inclusion of sustainable technology, but will also generate huge opportunities for employment, said Union Minister of Textiles, Commerce & Industry and Consumer Affairs, Food & Public Distribution, Piyush Goyal at an event in Tiruppur recently.
Goyal said that Tiruppur has made country proud and is home to textile production of worth 30,000 crore every year. He said that the sector provides direct employment to 6 lakh people and indirect employment to 4 lakh people, therefore, collectively providing employment to 10 lakh people.
He said that in 1985, Tiruppur was exporting Rs.15 Cr worth of textile products. In the year ended March 2022, the estimated exports from Tiruppur are Rs.30,000 Cr which is about two thousand times growth. Considering the unprecedented growth of the textile sector in the region, in over 37 years, the compounded annual growth rate at Tiruppur comes to 22.87%.
Goyal said that all over India, roughly 3.5-4 crore people are engaged in the total value chain of Textile sector alone. Textiles is the second largest provider of work after agriculture. The industry size is about Rs.10 lakh Cr. The export is about Rs.3.5 lakh crore. He reiterated that the Textile sector has the potential to grow to Rs.20 lakh Cr industry in the next 5 years with exports of Rs.10 lakh Cr. Even then, a modest export target of 7.5-8 lakh crore and production target of about 20 lakh crore which is doable in next 5 years has been set.
Shri Goyal said that if India grows at 8% every year on a Compounded Annual Growth basis, the economy will double in about 9 years’ time to be a $6.5 trillion economy. Similarly, in 18 years from now, the economy of India predicted is $13 trillion economy. In 27 years from now, the economy growth can be calculated as $26 trillion and hence after 30 years, it can be confidently put that India will be a $30 trillion economy.
