The following is the snap shot of the Indian textile industry:- India has the second largest manufacturing capacity globally.
Accounts for about 20 per cent of the world’s spindle capacity and 10 per cent of global rotor capacity.
– India has the world’s highest loom capacity (including handlooms) with 59 per cent of global market share.
– Largest producer of jute and cotton, and the second largest producer of silk.
– Sector contributes 14 per cent to industrial production, 4 per cent to India’s GDP, and constitutes 13 per cent of India’s export earnings.
– Employing over 45 million people, the sector is one of the largest sources of employment generation.
– Domestic industry is estimated to reach $100 billion by 2016-17, from $67 billion in 2013-14.
– Exports are expected to increase to $65 billion by 2016-17 from $38 billion in 2014-15.
– 100 per cent FDI is allowed under the automatic route in the sector. (IANS)