Vice President C P Radhakrishnan on Saturday stressed on the need for India to enter into more free trade agreements (FTAs) to gain a level-playing field with competitors like Bangladesh
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NEW DELHI — Vice President C P Radhakrishnan on Saturday stressed on the need for India to enter into more free trade agreements (FTAs) to gain a level-playing field with competitors like Bangladesh in global textile and apparel export markets.
Addressing the Apparel Exports Promotion Council (AEPC) awards event here, the vice president observed that previously, not many countries were competing with us for garment exports globally, but now there are many nations, like Bangladesh, Laos, Cambodia, Vietnam and the African countries.
"So FTA is a must ... it is the greatest advantage they (our competing nations) are having," Radhakrishnan said.
Asserting that India's target is to achieve the textile market size of USD 350 billion by 2030, with USD 100 billion in textile exports, he urged the apparel industry to also actively explore new markets and adopt eco-friendly manufacturing practices, responsible sourcing, and strategies to minimise waste.
"Only constraint today is the FTA with America is a little uncertain. I think it is only a matter of time," the vice president said.
Acknowledging that "there are a lot of constraints" on the Indian textile and apparel industry because of the geopolitical situation, he said, India is the 6th largest exporter of textiles and apparels globally, which stands as a testament to the immense contribution of the textile industry in our nation's growth story.
The vice president expressed confidence that India's textiles exports will double in the next three years.
"We cannot ignore the textile industry in India... It will grow, and I am sure you will be doubling your exports in the next three years," he said.
India's textiles and apparel exports stood at USD 37.75 billion in the last financial year 2024-25.
Speaking on the occasion, Sudhir Sekhri, Chairman, AEPC, said, "Despite global uncertainties, Indian apparel exports recorded a commendable 10 per cent growth in 2024-25. In November 2025 alone, exports grew by 11.3 per cent over November 2024, and by 22.1 per cent over November 2023. Cumulatively, RMG (ready-made garment) exports during April-November 2025-26 stood at USD 10.08 billion, reflecting sustained momentum and resilience despite global headwinds".