Textile industry: Traditional Branch of the Indian Economy Essay Example

GDP ) . and 17 per cent to the country’s export net incomes. It provides direct employment to over 35 million people. The fabrics sector is the 2nd largest supplier of employment after agribusiness. Therefore. the growing and all unit of ammunition development of this industry has a direct bearing on the betterment of the economic system of the state. India has the possible to increase its fabric and dress portion in the universe trade from the current degree of 4. 5 per cent to 8 per cent and make US $ 80 billion by 2020.

Export Scenario

The Indian fabrics and vesture industry is one of the largest subscribers to the country’s exports. The fabric merchandises continue to keep an of import function in the Indian exports. The latest position of exports of fabrics from the state is given in the Table below: - Beginning: Foreign Trade Statistics of India ( Principal Commodities & A ; Countries ).

Technical Textile Section

Technical fabrics are an of import portion of the fabric industry. The Working Group for the Eleventh Five Year Plan has estimated the market size of proficient fabrics to increase from US $ 5. 29 billion in 2006-07 to US $ 10. 6 billion in 2011-12. without any regulative model and to US $ 15. 16 billion with regulative model. The Scheme for Growth and Development of Technical Textiles aims to advance autochthonal industry of proficient fabric to leverage planetary chances and cater to the domestic demand.

Further. the authorities is set to establish US $ 44. 21 million mission for publicity of proficient fabrics. while the Finance Ministry has cleared puting up of four new research centres

for the industry. which include merchandises like mosquito and fishing cyberspaces. shoe lacings and medical baseball mitts. The planetary proficient industry is estimated at US $ 127 billion and its size in India is pegged at US $ 11 billion.