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INDIA – Future of textile manufacturing

01 May
2017

textile manufacturing

 

 

The textile industry of India is among the leading textile industries of the world. Earlier it was an unorganised industry but the situation has undergone a sea change with the relaxation of government policies in 1991. The economic liberalization gave the the Indian textile the much needed boost which in turn resulted into one of the largest and flourishing industry in the world.

 

Textile manufacturing and export are the two main pillars of textile industry of India. Moreover, it plays an important role in the economy of the country. Around 27 % of foreign exchange income is earned through textile exports. It also contributes 3 % to the GDP of the country and around 14 % to the total industrial production of the country. It also helps in generating employment opportunities in the country in the textile industry as  well as other subsidiary sectors.

 

Favourable government policies have helped the ailing textile sector. Time and tide seems to be favouring India. At present, India is in a position to give tough competition to China especially in the manufacturing sector.

 

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