Indian Textile Industry

 

 

Close to 14% of the industrial output and 30% of the export market share is contributed directly by the Indian textile industry. Indian textile industry is also the largest industry when it comes to employment that generates jobs not just within but also in various support industries like agriculture. As per a recent survey the textile industry is going to contribute 12 million new jobs in India by 2010 itself.

Indian textile industry is as old as the word textile itself. This industry holds a significant position in India by providing the most basic need of Indians. Starting from the procurement of raw materials to the final production stage of the actual textile, the Indian textile industry works on an independent basis.

Indian textile industry concludes of various segments like:

1. Woolen Textile
2. Cotton Textiles
3. Silk Textiles
4. Readymade Garments
5. Jute And Coir

6. Hand-Crafted Textile Like Carpets
7. Man Made Textiles

Indian textile industry in a very short span had made a distinct position globally, alluring the globe towards the ‘World of Indian textiles’. This has happened mainly because:

8. High availability of raw materials
9. Highly skilled economical labor, an added advantage
10. Largest producer of cotton yarn contributing 25% towards worlds cotton
11. Availability of all kinds of fibers like silk, cotton, wool and even high quality synthetic fibers
12. Flexibility of the readymade garment industry in terms of sizes, fabric variety, quantity, quality and cost

It’s not just the present that is shinning like a bright start but also the future, as the textile export market of India is expected to reach a high of $50 billion by 2010. This will eventually make a profit by 300%. In order to attain this target Indian textile industry has already started improving their design skills, including a combination of various fibers. Indian textile industry is all set to meet international standards and is planning to invest $5 billion in machineries very soon.

Most of the international brands like Marks & Spencer, JC penny, Gap have started procuring most of their fabrics from India. In fact, Walmart, who had procured textile worth $ 200 million last year, intends to procure $ 3 billion worth of textile this year.

The golden phase of the Indian textile industry has just begun where the world is chasing it from all nooks and corners.