the textile industry occupies a unique position in Indian economy elaborate this statement with appreciate arguments
Answers
The cloth you wear comes to you by going different process. India is a developing country and the most of it's textiles should come from the industry but still 20percent are still coming from small scale industries.The economy of India is a developing mixed economy. It is the world's seventh-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP). The country ranks 139th in per capita GDP (nominal) with $2,134 and 122nd in per capita GDP (PPP) with $7,783 as of 2018.After the 1991 economic liberalisation, India achieved 6-7% average GDP growth annually. Since 2014 with the exception of 2017, India's economy has been the world's fastest growing major economy, surpassing China.
pThe long-term growth prospective of the Indian economy is positive due to its young population,English profiency, corresponding low dependency ratio, healthy savings[39] and investment rates, and increasing integration into the global economy.[40] India topped the World Bank's growth outlook for the first time in fiscal year 2015–16, during which the economy grew 7.6%.[41] Despite previous reforms, economic growth is still significantly slowed by bureaucracy, poor infrastructure, and inflexible labor laws (especially the inability to lay off workers in a business slowdown).[42]
India has one of the fastest growing service sectors in the world with an annual growth rate above 9% since 2001, which contributed to 57% of GDP in 2012–13.[43] India has become a major exporter of IT services, Business Process Outsourcing (BPO) services, and software services with $154 billion revenue in FY 2017.[ This is the fastest-growing part of the economy. The IT industry continues to be the largest private-sector employer in India. India is the second-largest start-up hub in the world with over 3,100 technology start-ups in 2018–19. The agricultural sector is the largest employer in India's economy but contributes to a declining share of its GDP (17% in 2013–14). India ranks second worldwide in farm output.The industry (manufacturing) sector has held a steady share of its economic contribution (26% of GDP in 2013–14). The Indian automobile industry is one of the largest in the world with an annual production of 21.48 million vehicles (mostly two and three-wheelers) in 2013–14. India had $600 billion worth of retail market in 2015 and one of world's fastest growing e-commerce markets.
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HEY MATE,
Textile industry occupies a unique position in Indian economy due to following reasons:
(i) It occupies a unique position in the Indian economy because it contributes significantly to Industrial production (14%).
(ii) It employs about 35 million people directly and earns foreign exchange of about 24.6 percent.
(iii) The Industry has close links with agriculture and provides a living to farmers, cotton ball pluckers and workers engaged in ginning, spinning, weaving, dying, designing, packaging, tailoring, and sewing.
(iv) The handspun khadi provides large-scale employment to weavers in their homes as the cottage industry.
(v) India exports yarn to Japan and export cotton goods to USA, UK, Russia, France, East European countries, Nepal, Singapore, Sri Lanka and African countries.
(vi) We have a large share in the world trade of cotton yarn, accounting for one-fourth of the total trade.
(vii) Our spinning mills are competitive at the global land and capable of using all the fibers we produce.
(viii) It contributes 4 percent to our GDP.
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