The details of textile industry of India

Scope for textile industry in India
The country’s textile industry is estimated at $ 108 billion today and will cross $ 500 billion by 2025. The country has the apt climate for the growing of cotton and silk and other raw materials needed for the making of different types of textiles. It also provides direct and indirect employment to millions of people in the country. The industry also contributes to the exports of the country with a total of 11 % of the exports. It is a labor intensive industry and one of the largest employers as well. The industry is quite varied that comprises of hand spun fabric, silk, synthetic, wool, hand woven, machine and more. Some are still done in the traditional manner with the hand, and the other are made with sophisticated mills in large industries. The hosiery, power looms, and the knitting sector are recognized as the largest component of the textile industry. Textile is also related to agriculture due to the cotton crop since the ancient times. The textile industry is capable of producing a variety of textile products that are in demand.
The current market size
The industry has seen large investments in the recent years and has attracted various foreign investors as well. FDI is also involved with around $ 1,647.09 million since 2000 to 2015. Exports have risen in the past years with a positive trend. The government has introduced various policies that can help to boost the exports apart from increasing the production. The government in the near future is going to announce new National Textiles policy that can help to create around 35 million new jobs and increased invested by the foreign companies. The introduction of new high technique machinery and the involvement of qualified and skilled personnel in the industry can boost the industry to a higher level.

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