The textile industry occupies a vital place in Indian economy
and contributes substantially to its export earnings. Textile exports represent nearly 30
per cent of the countrys total exports. It has a high weightage of over 20 per cent
in the national production. It provides direct employment to over 15 million persons in
the mill, powerloom and handloom sectors. Consider its infrastructure: second largest
producer of silk, largest producer of jute, one of the largest production base for
cotton/Denims and never-tried-before blends of linen.
exquisite quality of Indian textiles has been hailed since
ancient times. The sheer mystique of their textures have
captured the imagination of royalty and commoners alike.
It is the appreciation and acceptance that it has met with the
world over that makes the Indian Textile Industry what it is
today-an industry with one of the highest growth rates in
India. The textile industry has a strong socio-economic
significance in India's national economy. It contributes
around 5% of GDP & accounts for over one-third of India's
total exports. It is also the largest foreign exchange
Indian Textile Industry has a fairly complex structure. At one
end of the spectrum is the hand spinning and hand weaving
operations and on the other, a highly sophisticated,
capital-intensive and high speed manufacturing activity.
Between the two extremes, the industry manufactures a
staggering range of fabrics, furnishings, dress material &
floor coverings, made-ups and garments.
Process of economic liberalisation begun in the last decade
has seen the industry become globally competitive - not only
in terms of price, but also quality. Modernisation, has
not been restricted to the installation of sophisticated
processing machinery, wide width looms, autoconers, electronic
clearers, splicers, etc. but also to the adaptation of quality
systems conforming to ISO 9000 standards. The recent
developments in the European markets on Eco-friendly textiles
has sent the Indian Industry into a flurry of activity to
adapt itself to market requirements.
Radical economic changes introduced by India and the move
towards integrating India with the rest of the world in the context of technology and
trade has opened up new opportunities for Indian textiles.
Globalisation, abolition of
quotas and establishment of WTO have further thrown up momentum for its acceleration.
Indias textile industry is poised to take a leap in the new globalised scenario as
it is implementing a modernisation programme costing US$6 billion.
About six per cent of world merchandise trade is constituted
by textile and clothing. Indian textile industry is worth around Rs.800 billion (US$ 22.05
billion) accounting for approx. 20% of Indias total industrial output. Textile
exports of US$ 11.1 billion achieved in 1999-2000 accounted for more than one-third of
Indias overall exports. Indias textile exports are increasing at the rate of
20% annually, US$ 50 billion has been set by 2010.