The Confederation of Indian Textile Industry (CITI) held its 66th Annual General Meeting, bringing together key stakeholders to reflect on the past year’s performance and challenges. Chairman Rakesh Mehra highlighted the sector's resilience amid global disruptions, such as geopolitical tensions, supply chain issues, and inflation.
Mehra acknowledged the decline in Textile & Apparel (T&A) exports to US$ 34.8 billion in 2023-24, following a historic high in 2021-22. Despite this, he expressed optimism for recovery, citing positive trade figures and agreements like the India-Australia ECTA and India-UAE CEPA, which could accelerate export growth.
Government initiatives aimed at supporting the sector, such as removing import duties on select cotton varieties and implementing Minimum Import Prices (MIP) on specific knitted fabrics, were also discussed. Mehra underscored the importance of raw material availability at competitive prices and the need for investment schemes to support MSMEs and boost downstream capacity.
He further emphasized the role of international trade agreements, domestic policy reforms, and CITI's initiatives like the Skill Development training program under the Samarth Scheme and PMKVY 4.0. Partnerships focused on ESG and HRDD frameworks were also highlighted.
Mehra concluded by stressing the sector’s growth potential, projecting a market size of $350 billion by 2030 with continued government support and industry collaboration. The meeting also reviewed CITI’s key activities, including its focus on cotton production, sustainability, and participation in international events.
