Prime Minister Narendra Modi emphasized the importance of textiles, tourism, and technology in driving India’s development. Speaking at the Madhya Pradesh Global Investor Summit in Bhopal, he said these sectors would generate millions of jobs.

Textiles as a Key Sector

PM Modi highlighted India’s strong position in textiles, noting that the country is the world’s second-largest cotton producer. He described Madhya Pradesh as the “cotton capital” of India, contributing 25% of the nation’s organic cotton supply. India ranks sixth globally in textile and apparel exports.

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To boost India’s global standing in technical textiles, the government launched the National Technical Textiles Mission in 2020-21. The initiative, extended until 2025-26, has a financial outlay of ₹1,480 crore and aims to achieve $10 billion in technical textile exports. Currently, India’s exports in this sector range between $2 billion and $3 billion.

Water Security for Industrial Growth

PM Modi stressed the importance of water security in industrial development. He mentioned the government’s dual approach—focusing on water conservation and advancing the river interlinking mission. He highlighted the Rs 45,000 crore Ken-Betwa River Linking Project, which will enhance agricultural productivity across 10 lakh hectares of land.

Middle-Class Empowerment Through Tax Reforms

PM Modi also discussed measures to boost consumption and economic growth. He referenced the Union Budget, where Finance Minister Nirmala Sitharaman restructured tax slabs, making income up to ₹12 lakh tax-free. He emphasized that strengthening the middle class, the country’s largest taxpayer group, would increase demand for manufacturing and services. Additionally, he pointed out efforts to build a local supply chain to enhance self-reliance in manufacturing.