CITI requests for strategic schemes to boost Indian textile, apparel exports (#1688826)

The Confederation of Indian Textile Industry (CITI) has requested the government to introduce policies to drive foreign investment and boost exports in the textile and apparel sector.

CITI has sought robust export promotion measures to achieve the country’s ambitious export target of $100 billion by 2030.

Additionally, the organisation has urged the government to enhance India’s presence in the US market through marketing initiatives such as trade exhibitions, buyer-seller meetings, and partnerships with US retailer associations.

Rakesh Mehra, CITI chairman in a statement said, “USA accounts for about 27 percent of India’s T&A exports. During the last 5 years, India’s exports to USA have increased at a CAGR of about 3.3 percent. It would require our exports to grow at a CAGR of about 16 percent to achieve the visionary target of USD 100 bn exports by 2030.”

“Enhancing our visibility and presence in the US market through these targeted efforts will be crucial for tapping into this potential,” Mehra added.

CITI also advocated for income tax relief for MSME manufacturing units within the textile sector to ensure sustainable growth.