New Delhi, Feb. 25 -- In a statement during the Export Conclave jointly organised by World Trade Centre Mumbai and YES Bank, Textile Commissioner Roop Rashi emphasised the critical role banks should play in supporting India's textile industry, which currently employs 5.4 crore people and aims to expand its market size from USD 172 billion to USD 350 billion by 2030.

"I am confident we can reach this target before 2030; but the sector needs bank funding for product standardisation, capacity building, international branding and exports," said Rashi.

Highlighting the capital-intensive nature of the textile value chain, Rashi urged banks to prioritise funding for textile units alongside their focus on large-scale loans and project finance....