write a note on the growth of textile in India
Answers
The textile industry in India traditionally, after agriculture, is the only industry that has generated huge employment for both skilled and unskilled labour in textiles. The textile industry continues to be the second-largest employment generating sector in India. It offers direct employment to over 35 million in the country.[1] The share of textiles in total exports was 11.04% during April–July 2010, as per the Ministry of Textiles. During 2009–2010, the Indian textile industry was pegged at US$55 billion, 64% of which services domestic demand.
In 2010, there were 2,500 textile weaving factories and 4,135 textile finishing factories in all of India.
According to AT Kearney’s ‘Retail Apparel Index’, India was ranked as the fourth most promising market for apparel retailers in 2009.
India is first in global jute production and shares 63% of the global textile and garment market. India is second in global textile manufacturing and also second in silk and cotton production.
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Explanation:
The textile industry in India traditionally, after agriculture, is the only industry that has generated huge employment for both skilled and unskilled labour in textiles. The textile industry continues to be the second-largest employment generating sector in India. It offers direct employment to over 35 million in the country.[1] According to the Ministry of Textiles, the share of textiles in total exports during April–July 2010 was 11.04%. During 2009–2010, the Indian textile industry was pegged at US$55 billion, 64% of which services domestic demand.[1] In 2010, there were 2,500 textile weaving factories and 4,135 textile finishing factories in all of India.[2] According to AT Kearney’s ‘Retail Apparel Index’, India was ranked as the fourth most promising market for apparel retailers in 2009.[3]
India is first in global jute production and shares 63% of the global textile and garment market. India is second in global textile manufacturing and also second in silk and cotton production. 100% FDI is allowed via automatic route in textile sector. Rieter, Trutzschler, Saurer, Soktas, Zambiati, Bilsar, Monti, CMT, E-land, Nisshinbo, Marks & Spencer, Zara, Promod, Benetton, and Levi’s are some of the foreign textile companies invested or working in India.[4]