What is the contribution of textile industry in the Indian economy
Answers
Explanation: The textile industry occupies unique position in the Indian economy , because it contributes significantly to industrial production ( 14%), Employment generation (35 million persons directly - search the second largest after agriculture) and foreign exchange earnings about ( 20 4.6 % ) . it contributes 4% towards GDP.
It suggests that textiles and clothing industries are important in economic and social terms, in the short-run by providing incomes, jobs, especially for women, and foreign currency receipts and in the long- run by providing countries the opportunity for sustained economic development in those countries with .
Answer:
Answer:
1. Textile industry contributes 14percent industrial production, 35million persons directly employed in the industry; it earns about 24.6 percent foreign exchange.
2. It contributes 4 percent towards GDP.
3. It is the only industry in the country, which is self reliant and complete in the value chain i.e. from raw material to the highest value added products.
Please Like and Rate :)