Explain the importance of textile industry in India what are the major drawbacks of this industry
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textile industry must realise that sectoral disputes only serve to undermine those making a living from it.
Understanding the textile value chain is critical to put an end to the periodic sectoral conflicts that erupt in the industry. To ensure growth, it is important to create a level playing field for all sections of the industry — cotton, yarn, fabrics, and garments and home textiles.
For this, we need to learn lessons from the huge mistakes made in banning the export of raw cotton in 2010 and yarn in 2011. These had a chain repercussion, eventually affecting the cut and sewn products sector (garments and home textiles) as well and causing losses to the tune of $4 billion to the industry as a whole.
Understanding the textile value chain is critical to put an end to the periodic sectoral conflicts that erupt in the industry. To ensure growth, it is important to create a level playing field for all sections of the industry — cotton, yarn, fabrics, and garments and home textiles.
For this, we need to learn lessons from the huge mistakes made in banning the export of raw cotton in 2010 and yarn in 2011. These had a chain repercussion, eventually affecting the cut and sewn products sector (garments and home textiles) as well and causing losses to the tune of $4 billion to the industry as a whole.
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