"We have resolved to transform Bharat into a 'Viksit Rashtra' in the next 25 years. Four important pillars of Viksit Bharat are poor, youth, farmers and women. And notably, the textile sector of Bharat is connected with all these pillars.

Bharat TEX will launch a Textiles Grand Innovation Challenge, aimed at identifying innovative circular solutions to enhance India's textiles and apparel industry. The event has attracted significant interest from leading global textile companies, including Coach, Tommy Hilfiger, Calvin Klein, and H&M, among others.

The textile mill associations said the industry is going through acute financial stress, due to slowdown in exports, especially in the cotton-based segment following external factors such as the prolonged Ukraine-Russia conflict and the recent Israel-Hamas war.