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Importance of Textiles & Clothing Industry in Indian Economy

Importance of Textiles & Clothing Industry in Indian Economy. Simi Balakrishnan CUTS International. An Overview. Indian textiles and clothing (T&C) industry is extremely varied Industry contributes about… 14% to industrial production 4% to GDP 17 % to country's export earnings

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Importance of Textiles & Clothing Industry in Indian Economy

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  1. Importance of Textiles & Clothing Industry in Indian Economy Simi Balakrishnan CUTS International

  2. An Overview • Indian textiles and clothing (T&C) industry is extremely varied • Industry contributes about… • 14% to industrial production • 4% to GDP • 17 % to country's export earnings • Largest provider of employment after agriculture • Direct employment to over 35 mn people • 50 mn engaged in allied activities • Self reliant in the entire value chain – fibre to fashion • Supports agriculture in over 9.5 million hectares of land where cotton is cultivated.

  3. India has.. • Highest number of looms (1.8 mn shuttle looms; 200,000 shuttle-less looms; 3.9 mn handlooms) • 2nd largest number of spindles in world (40 mn spindles) • 1st in Jute production (1,900 mn kg) • 2nd in silk production (15 mn kg raw silk) • 2nd in cotton production (2,700 mn kg cotton fibre) • 2nd in cotton exports (2,000 mn kg) • 5th in man-made fibers production (2,000 mn kg) • 8th in production of wool (51 mn kg)

  4. India’s T&C Industry… • Generated US$ 55 bn in 2008-09 (Domestic market- 33.4 bn; exports- 21.6 bn) • Envisages to reach US$ 100 bn by 2015 (Domestic market- 57 bn; exports- 43 bn • Contributed 12.5% to India’s total export in 2009-10 • Holds 4% of global T&C exports • Largest foreign exchange earning sector • Registered strong growth in post quota period – • US$ 14.03 bn in 2004-05 to US$ 22.15 bn in 2007-08 • but declined in 2008-09 to US$ 20.94 bn • and increased in 2009-10 to US$ 22.42 bn

  5. Segment-wise Exports 2007-2010 (US$ mn).Source: Ministry of Textiles, Annual Report 2010-11

  6. T&C Exports from India - Top ten countries

  7. Source: Federation of Indian Chambers of Commerce and Industry

  8. Domestic Demand Drivers • More than 60% of T&C production for domestic market • Buoyant domestic economy • Helpful demographic profile and increase in working female population • Organized retailing a driver for increased consumption.

  9. International Demand Drivers • Dismantling of quotas • Increase in sourcing of textiles by developed markets from developing countries. • Apparel spending remains significant in life style products category in developed world.

  10. Projected Market for Indian T&C – 2015.Source: Confederation of Indian Textile Industry

  11. Promotion of Textiles Sector in India • Sector is modernizing rapidly • Various schemes and programmes introduced • Increased Investment and Plan Allocation • Investment increased - Rs. 1,08,531 cr (2004-08)

  12. Thank You!

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