Describe the significance of Textile industry in India with specific reference to cotton industry.
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The textile industry occupies a unique position in the Indian economy because of its significant contributions towards industrial production, employment generation, and foreign exchange earnings. Additionally, it is the only industry which self-reliant and complete in its value chain.
India has a large share in world trade of cotton yarn, accounting for one-fourth of the total trade. Spinning mills are highly competitive at the global level with some large and modern factories in this segment, though scattered
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