siginificance of textile industries
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Answer:
1. 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.
It contributes 14% to industrial production in India and the second largest provider of employment opportunities after agriculture. It contributes 4% towards the GDP of the country.
The industry provides a source of livelihood to farmers, cotton boll pluckers and workers engaged in ginning, spinning, weaving, dyeing, designing, packaging, tailoring and sewing. This industry supports many other industries; like chemical and dyes, mill stores, packaging materials and engineering works.
The textile industry plays a significant role in Indian economy by providing direct employment to an estimated 35 million people, by contributing 4 per cent of GDP and accounting for 35 per cent of gross export earnings. The textile sector contributes 14 per cent of the value-addition in the manufacturing sector.