Know about the textile industry in India



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India has a climate that supports the cultivation of cotton, silk and all other raw materials require to manufacture different textiles. The Indian textile industry is varied and comprises of various hand spun fabrics, synthetic fabrics, wool, hand woven and machine fabrics, and a lot more. Some are handmade in a traditional way and some are produced in textile mills with sophisticated machinery.
The Indian textiles industry, currently estimated at around US$ 120 billion, is expected to reach US$ 140 billion by 2021. Textiles sector is one of the largest contributors to India’s exports with approximately 15% of total exports. It is a labour intensive industry and provides either direct or indirect environment to about millions of people. India is the world’s largest producer of jute, and 2nd and 3rd largest producer of silk & cotton and cellulosic fibre respectively.
Government is focusing on increasing textile exports by introducing favourable policies that are leading to growth in textile and clothing industry. 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. In the near future, the government is to launch the new national textile policy which will create millions of new jobs in the textile industry and it will also boost the FDI flow therein.
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