what is the importance of textile industry
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Importance of Textile Industry in India
Like the other developing countries, the Textile industry in India also occupies an important place in the economy as shown below:
Key Indicators
Contributes 4% to the Gross Domestic Product (GDP)Accounts for 17% of total ExportsIs the largest employment provider after Agriculture ( 82 million people direct/indirect)Market size of the Textile industry (exports & domestic) is US$ 52 billion, at presentExpected to reach US$ 110 billion by 2012
Covers the Entire value chain
RAW MATERIAL: Cotton Production estimated at 4.32 million Tons
SPINNING: 37.5 million spindles
WEAVING: 1.93 Million looms (excluding hand looms)
APPAREL: Current level of exports - US$ 10 billion
Like the other developing countries, the Textile industry in India also occupies an important place in the economy as shown below:
Key Indicators
Contributes 4% to the Gross Domestic Product (GDP)Accounts for 17% of total ExportsIs the largest employment provider after Agriculture ( 82 million people direct/indirect)Market size of the Textile industry (exports & domestic) is US$ 52 billion, at presentExpected to reach US$ 110 billion by 2012
Covers the Entire value chain
RAW MATERIAL: Cotton Production estimated at 4.32 million Tons
SPINNING: 37.5 million spindles
WEAVING: 1.93 Million looms (excluding hand looms)
APPAREL: Current level of exports - US$ 10 billion
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