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5. Indian Textiles and Garments Could Become More Competitive in Europe | On the export side, Indian industries stand to gain. The EU will ease market access for Indian textiles, garments, leather products and jewellery, helping them compete better with exporters from countries such as Bangladesh and Vietnam. Lower tariffs could boost exports and support jobs in labour-intensive sectors. (Image: Canva)
Budget
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CNBC TV18•01-02-2026, 11:49

Budget 2026: Sitharaman Unveils Integrated Program to Revitalize Textile Sector

  • •Finance Minister Nirmala Sitharaman proposed an integrated program in Budget 2026 to boost India's labor-intensive textile sector.
  • •Key components include the National Fibre Scheme, Textile Expansion and Employment Scheme, National Handloom and Handicrafts Programme, TEX-ECO, and SAMARTH 2.0 for skilling.
  • •The National Fibre Scheme aims for self-reliance in natural and man-made fibers, while the Expansion Scheme modernizes clusters with capital support.
  • •The National Handloom and Handicraft Programme will strengthen existing schemes and provide targeted support to weavers and artisans.
  • •India is the 6th largest global exporter of textiles and apparel, contributing nearly 2% to GDP, but faces challenges like fragmentation and reliance on cotton.

Why It Matters: Budget 2026 introduces a comprehensive program to enhance the competitiveness and self-reliance of India's textile industry.

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