Budget 2026: Sitharaman Boosts Textile Sector Ahead of Key State Elections
Budget
C
CNBC TV18•01-02-2026, 18:37
Budget 2026: Sitharaman Boosts Textile Sector Ahead of Key State Elections
- •Finance Minister Nirmala Sitharaman focused on the textile sector in Budget 2026, making several announcements ahead of state elections in Tamil Nadu, Kerala, Assam, West Bengal, and Puducherry.
- •The textile and apparel industry contributes 2.3% to India’s GDP, 13% to industrial production, and 12% to total exports, with Tamil Nadu and West Bengal being significant contributors.
- •Sitharaman proposed Samarth 2.0 for textile skilling, an integrated program for the sector, new textile parks, a National Fibre Scheme, and a National Handloom and Handicraft Programme.
- •These announcements are seen as both political and financial, aiming to strengthen India's textile sector against global competition and address challenges like Trump tariffs.
- •The government has provisioned ₹1,500 crore under the Integrated Textile Program and continues to support technical textiles through the National Technical Textile Mission.
Why It Matters: Budget 2026 prioritizes the textile sector with new schemes and funding, strategically timed before state elections.
✦
More like this
Loading more articles...
