Textile Industry Key Facts

 

 

  • Indian Textile Industry is one of the largest and oldest industry in India.
  • Indian Textile Industry is highly fragmented industry; at the same time it is an independent and self-reliant industry that has shown sustainable growth over the years.
  • Indian textile Industry is valued at US$ 36 Billion with exports of US$ 17 Billion in 2005-2006.
  • Indian Textile Industry is second largest industry in terms of providing vast employment opportunities and employs around 35 million people in country after agriculture sector..
  • The Indian Textile Industry plays vital role in economic development and contributes 14% to industrial production in the country.
  • Textile Industry contributes around 4% of GDP, 9% of excise collections, 18% of employment in industrial sector, and has 16 % share in country’s export.
  • Industry has direct and strong linkage with rural and agriculture sector, therefore it is estimated that, one of every six households in country is directly or indirectly dependent on this industry.
  • Industry contributes around 25% share in the world trade of cotton yarn.
  • India is evolved as a major contributor in world’s cotton sector. Indian is the world’s third-largest producer of cotton and second-largest producer of cotton yarns and textiles.
  • India is the largest exporter of yarn in the international market and has a share of 25% in world cotton yarn export market.
  • India contributes for 12% of the world’s production of textile fibers and yarn.
  • Indian textile industry is second largest after China, in terms of spindleage, and has share of 23% of the world’s spindle capacity.
  • India has around 6% of global rotor capacity.
  • The country has the highest loom capacity, including handlooms, and has share of 61% in world loomage.
  • Including textiles and garments, 30% of India's export comes from this sector.
  • Indian Textile Industry is one of the largest industry that provides high exports and foreign revenue.
  • Large and potential domestic & international market, large pool of skilled and cheap labor, well-established industry, promising export potential etc. are few strengths of Indian Textile Industry.
  • Highly Fragmented, High dependence on cotton sector, Lower productivity, Unfavorable Labor Laws are few drawbacks of the industry from which it has to overcome.