Question

Explain the economic importance of the textile industry give 3 point.

Answer 1

hi mate.

International trade in textiles and clothing has played an important role in the development process of many countries and has also facilitated their integration in to the world economy.In no other category of manufactured goods do developing countries enjoy such a large net exporting position" as they do in the textile sector.

Importance of Textile Industry in India;

Contributes 4% to the Gross Domestic Product (GDP)

Accounts for 17% of total Exports

Is the largest employment provider after Agriculture ( 82 million people direct/indirect)

Covers the Entire value chain