Question

What was the scope of textile industry in india?

Answer 1

India’s textile sector covers everything from fibre to garments is the second-largest employment generation sector after agriculture, employing an estimated 32 million workers.Textile industry not only provides livelihoods to millions of households, but is a storehouse of traditional skills, heritage and a carrier of heritage and culture too.India’s textiles sector is one of the oldest industries in Indian economy.Textile sector is one of the largest contributors to India’s export with approximately 11 per cent of total exports.Textile industry is a labour intensive industry.The textile industry consists of two broad segments- Organised and Unorganised sector. The unorganised sector consists of handloom, handicrafts and sericulture, which are operated on a small scale and through traditional tools and methods. While the organised sector consisting of spinning, apparel and garments segment which apply modern machinery and techniques such as economies of scale.India’s overall textile exports during FY 2015-16 stood at US$ 40 billion.