India Budget Promotes Manufacturing and Cluster Growth in Textile Sector
The Indian Budget has introduced initiatives to bolster the textile sector, which employs over 45 million people, by focusing on public capital expenditure and support for MSMEs. Key measures include the establishment of PM MITRA parks and an Integrated Programme for Textiles, aimed at reducing import dependence and enhancing competitiveness. Industry leaders expressed optimism about the revival of 2,000 clusters and the potential for export growth, while emphasizing the need for effective implementation and further support for women-led businesses.
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The Indian Budget outlines initiatives to enhance the textile sector, which employs over 45 million people, emphasizing public capital expenditure and support for MSMEs. Key measures include the PM MITRA parks, cluster modernization, and the Integrated Programme for Textiles, aimed at reducing import dependence and improving manufacturing depth.
Industry leaders noted the Budget's focus on fiber supply, scale, and skills aligned with automation as crucial for stabilizing input costs and enhancing competitiveness. The ₹10,000 crore MSME Growth Fund indicates a shift towards scale-led competitiveness.
Stakeholders expressed optimism about the revival of 2,000 clusters and the establishment of mega textile parks, while highlighting the need for effective implementation and reforms in the power sector. D2C brands welcomed export-oriented measures, seeing them as vital for scaling internationally, though some called for further support for women-led businesses and specific export readiness programs.
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