Author : Dr.r.l.poonguzhali
Keyword : Technology up gradation, joint venture and government initiatives india's textiles sector textiles
Subject : Economics
Article Type : Review article
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Abstract : India is the second largest producer of textiles and garments in the world. The Indian textiles are expected to grow to a size of US$ 223 billion by 2021, according to a report by Technopak Advisors. This industry accounts for almost 24% of the world's spindle capacity and 8% of global rotor capacity. Abundant availability of raw materials such as cotton, wool, silk and jute as well as skilled workforce have made the country a sourcing up. The textiles industry has made a major contribution to the national economy in terms of direct and indirect employment generation and net foreign product (GDP), and 27 per cent to the country's foreign exchange inflows. It provides direct employment to over 45 million exchange earnings. The sector contributes about 14 per cent to industrial production, 4 per cent to the gross domestic people.
Article by : Dr R L Poonguzhali
Article add date : 2021-08-01
How to cite : Dr.r.l.poonguzhali. (2021-August-01). India's textile overview : progress and challenges. retrieved from https://www.openacessjournal.com/abstract/799