Textile Industry in Tiruppur generating employment for 10 lakh, says Piyush Goyal
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 pc.
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New Delhi, Jun 27: Indian govt looks forward 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. Union Minister of Textiles Piyush Goyal at an event in Tiruppur, Tamil Nadu said that Tiruppur has made country proud and is home to textile production of worth 30,000 crore every year.
Union Textile Minister Piyush Goyal 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 pc.
He said that Tiruppur has immense employment avenues and called upon youngsters to grab the opportunity. Adding on he said that the youngsters will also be trained. He mentioned that presently, nearly 70 pc of those employed in the textile sector in Tiruppur are women and those from the marginalized sections. 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 ₹10 lakh Cr. The export is about ₹ 3.5 lakh crore.
The Minister reiterated that the Textile sector has the potential to grow to ₹20 lakh Cr industry in the next 5 years with exports of ₹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. He talked about the challenges faced by India in terms of COVID as well as war between other countries. However, he stressed that despite the challenges, under the guidance of Prime Minister, India is one of the fastest growing economies in the world.