India has been major producer of cotton and its fabric. India exports cotton fabrics and items to many other countries .find out how it help us?
Answers
Answer:
Cotton plays an important role in the Indian economy as the country's textile industry is predominantly cotton based. India is one of the largest producers as well as exporters of cotton yarn. The textile industry is also expected to reach US$ 223 billion by the year 2021.
The states of Gujarat, Maharashtra, Telangana, Andhra Pradesh, Karnataka, Madhya Pradesh, Haryana, Rajasthan, and Punjab are the major cotton producers in India.
Key Markets and Export Destinations
Cotton yarn and fabrics exports accounts for about 23 per cent of India’s total textiles and apparel exports.
In 2017-18, India’s cotton production was 34.86 million bales of 170 Kgs. each
Between Apr-Oct 2018, total textile and clothing exports stood at Rs 1.52 trillion (US$ 21.95 billion).
Between Apr-Oct 2018, exports of cotton raw including waste, cotton yarn, cotton fabrics and cotton made-ups grew by 26.01 per cent year-on-year to US$ 6,893.05 million from US$ 5,470.20 million during the same period last year.
Various reputed foreign retailers and brands such as Carrefour, Gap, H&M, JC Penney, Levi Strauss, Macy's, Marks & Spencer, Metro Group, Nike, Reebok, Tommy Hilfiger and WaI-Mart import Indian textile products.
Cotton Textile Export Promotion Council
The Cotton Textile Export Promotion Council (TEXPROCIL) takes part in national and international events to enhance the visibility of Indian products, advertises and promotes Indian products in various media vehicles such as fashion magazines, event-related pull-outs, India reports and leading trade magazines, and organises buyer-seller meets (BSM) and trade delegation visits.
Answer:
It brings money into the country, enhances foreign trade , increases the foreign exchange, and tries to balance the money that goes out of the economy because of imports. It increases the country's gross domestic product( GDP) and also helps in establishing its market in the foreign countries.
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