Explain the contributing of textile industry in Indian economy.?

Question

Answer

A) It contributes significantly to industrial production, 14 per cent of the total production of industries comes from textiles.
(b) It provides employment to about 35 million people directly.
(c) It contributes about 24.6 percent of the foreign exchange earnings of the country.
(d) Textiles contribute 4 percent towards GDP.

Answer

1) Textile industry occupies unique position in the Indian economy as it contributes significantly to industrial production (14%), employment generation (35 million persons directly – 2nd to Agriculture) and foreign exchange earnings (about 24.6 %)

2) It is the only industry in the country which is self reliant and complete in the value chain i.e., from raw material to highest value added products

3) This industry also contributes 4% towards GDP. Since this industry provides employment to other industries, it can be rightly said that largest proportion of industrial workers are found in textile industry.

Answer

Answer

India’s textiles sector is one of the oldest industries in Indian economy dating back several centuries. Even today, textiles sector is one of the largest contributors to India’s exports with approximately 11 per cent of total exports. The textiles industry is also labour intensive and is one of the largest employers. The textile industry has two broad segments. First, the unorganised sector consists of handloom, handicrafts and sericulture, which are operated on a small scale and through traditional tools and methods. The second is the organised sector consisting of spinning, apparel and garments segment which apply modern machinery and techniques such as economies of scale.

The textile industry employs about 40 million workers and 60 million indirectly. India's overall textile exports during FY 2015-16 stood at US$ 40 billion.

The Indian textiles industry is extremely varied, with the hand-spun and handwoven textiles sectors at one end of the spectrum, while the capital intensive sophisticated mills sector at the other end of the spectrum. The decentralised power looms/ hosiery and knitting sector form the largest component of the textiles sector. The close linkage of the textile industry to agriculture (for raw materials such as cotton) and the ancient culture and traditions of the country in terms of textiles make the Indian textiles sector unique in comparison to the industries of other countries. The Indian textile industry has the capacity to produce a wide variety of products suitable to different market segments, both within India and across the world.

Answer

The textile industry occupies unique position in the Indian economy , because it contributes significantly to industrial production ( 14%), Employment generation (35 million persons directly - search the second largest after agriculture) and foreign exchange earnings about ( 20 4.6 % ) .it contributes 4% towards GDP.....

Answer

The Cotton Textile Industry is not a basic industry like iron and steel industry but it forms the largest single industry in India. Every year the Cotton Textile Industry produces 30% – 35%` of the total industrial products in the country.

In a developing country like India, the Cotton Textile Industry is very important, for it has to meet the demand for clothes of the Indians and exports too. The Cotton Textile Industry contributes nearly 30% of the value of exports, and employs more than 55 million labors. Some parts of India, viz., western and southern region are largely dependent on this industry. Besides, many people are engaged in either cotton production, or the garment industry, many factories produce the machines required for the cotton textile industry etc. Thus the Cotton Textile Industry is very important to India’s economy, directly or indirectly.

Answer

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]

Answer

Introduction:

The textile industry plays a significant role in the Indian economy, contributing to employment generation, foreign exchange earnings, and industrial output. It is one of the oldest industries in India and has a rich history of producing a wide range of textiles, from traditional handloom fabrics to modern, technologically advanced materials. This industry encompasses various subsectors, including cotton, silk, wool, jute, and synthetic fibers, and has both domestic and international significance.

Employment Generation:

- The textile industry is one of the largest employers in India, providing employment opportunities to millions of people, especially in rural areas.
- It offers a diverse range of jobs, from spinning, weaving, and dyeing to designing, marketing, and retailing, catering to both skilled and unskilled workers.
- The industry's labor-intensive nature ensures that it has a significant impact on reducing unemployment and poverty in the country.

Foreign Exchange Earnings:

- The textile industry is a major contributor to India's foreign exchange earnings through exports. It is one of the largest exporters of textiles and clothing globally.
- Exports of textiles and garments contribute significantly to India's trade balance, helping to stabilize the economy and improve the country's foreign currency reserves.
- The industry's ability to export a wide range of products, from traditional handloom fabrics to high-quality garments, gives it a competitive edge in the global market.

Industrial Output:

- The textile industry's contribution to industrial output in India is substantial. It accounts for a significant share of the country's manufacturing sector, contributing to GDP growth.
- The industry's backward and forward linkages with other sectors, such as agriculture (cotton cultivation) and chemicals (dyes and chemicals used in textile processing), create a multiplier effect on industrial production.
- Textile manufacturing requires a wide range of inputs, including machinery, raw materials, and chemicals, which further boosts industrial activity and stimulates related industries.

Support to Agriculture:

- The textile industry, particularly the cotton subsector, provides vital support to the agricultural sector in India. Cotton cultivation is a major source of income for farmers across the country.
- The industry's demand for cotton creates a market for farmers, ensuring a steady income source and encouraging agricultural production.
- Additionally, the textile industry promotes sustainable farming practices, such as organic cotton cultivation, thereby contributing to environmental conservation and rural development.

Conclusion:

The textile industry's contribution to the Indian economy is multifaceted, encompassing employment generation, foreign exchange earnings, industrial output, and support to agriculture. Its significance extends beyond economic aspects, as it also preserves traditional craftsmanship, promotes cultural heritage, and fosters innovation. As the industry continues to adapt to changing global trends and technologies, it remains a crucial pillar of India's economic growth and development.

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