Textile industry occupies a unique position in Indian economy due to following reasons:
(i) It occupies a unique position in the Indian economy because it contributes significantly to Industrial production (14%).
(ii) It employs about 35 million people directly and earns foreign exchange of about 24.6 percent.
(iii) The Industry has close links with agriculture and provides a living to farmers, cotton ball pluckers and workers engaged in ginning, spinning, weaving, dying, designing, packaging, tailoring, and sewing.
(iv) The handspun khadi provides large-scale employment to weavers in their homes as the cottage industry.
(v) India exports yarn to Japan and export cotton goods to USA, UK, Russia, France, East European countries, Nepal, Singapore, Sri Lanka and African countries.
(vi) We have a large share in the world trade of cotton yarn, accounting for one-fourth of the total trade.
(vii) Our spinning mills are competitive at the global land and capable of using all the fibers we produce. (viii) It contributes 4 percent to our GDP.
