Textile Industry in India is a great asset to country because of its dual nature of being both CAPITAL INTENSIVE AND LABOUR INTENSIVE... Lets have a look on its credentials...
The India Advantage
- The Indian textile industry is one of the oldest and most significant industries in the country.
- The textile industry accounts for around 4 per cent of the gross domestic product (GDP),
- 14 per cent of industrial production
- 16 per cent of the country's total exports earnings.
- It is the largest foreign exchange earning sector in the country.
- It provides employment to over 35 million people.
- With direct linkages to the rural economy and the agriculture sector it is estimated that one out of every six households in the country depends on this sector, either directly or indirectly, for its livelihood.
- The Indian textile industry is estimated to be around US$ 52 billion and is likely to reach US$ 115 billion by 2012.
- The domestic market is likely to increase from US$ 34.6 billion to US$ 60 billion by 2012.
- It is expected that India's share of exports to the world would also increase from the current 4 per cent to around 7 per cent during this period.
- India's textile exports have shot up from US$ 18.71 billion in 2006–07 to US$ 20.25 billion in 2007–08, registering a growth of over 8 per cent.
The India Advantage
- The textiles and apparels sector is a major contributor to our economy in terms of foreign exchange earnings and employment.
- India has overtaken the US to become the world's 2nd largest cotton producing country, after China, as per a study by International Service for the Acquisition of Agri-biotech Application.
- BT cotton was a major factor contributing to higher rate of production, from 15.8 million bales in 2001–02 to 31 million bales in 2007–08.
- India is the largest exporter of yarn in the international market and has a share of 25 per cent in world cotton yarn exports.
- India accounts for 12 per cent of the world's production of textile fibres and yarn.
- In terms of spindleage, the Indian textile industry is ranked second, after China, and accounts for 23 per cent of the world's spindle capacity.
- The country has the highest loom capacity, including handlooms, with a share of 61 per cent in world loomage.
- India is the largest producer of jute in the world.
- It is the second largest producer of silk and the only country to produce all four varieties of silk – mulberry, tusar, eri and muga.
- India is the fifth largest producer of synthetic fibres/yarn.
Incredibly Credible Indiaaaa
Chak De.. !!