What is the position of Indian cotton textile globally?
Answers
Answer:
The textile and apparel industry is one of the leading segments of the Indian economy and one of the largest sources of foreign exchange earnings for India. This industry accounts for about 13% of the total exports earnings of the country. The industry holds importance from the employment point of view as well. It is the second largest provider of employment after agriculture. It provides direct employment to 52 million people and indirect employment to an additional 69 million people. India’s key strengths in this sector lie in the availability of all types of natural and manmade fibers, a large pool of manpower across the levels of hierarchy, the presence of complete value chain, a large and growing domestic market and design capability. These factors make India a preferred destination for textile investments as compared to its competing nations like Bangladesh, Vietnam, Sri Lanka etc.
Answer:
India has 63% share in global textile and garment market. Further, India also has second largest manufacturing capacity globally. The Indian textile industry accounts for about 24% of the world's spindle capacity and 8% of global rotor capacity.
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