Textile industry in India generates numerous employment opportunities and is only next to the agriculture industry and contributes 27% of the export market share in the country.
A recent survey reveals the affirmative fact that, it will still generate 12 million new jobs in India by 2010.
India generates 27% of the foreign exchange revenue from textile exports. Further, Indian Textile Industry contributes about 14% of the total industrial production of India.
Furthermore, its contribution to the gross domestic product of India is around 3% and the numbers are steadily increasing.
Indian Textile Industry provides employment to 35 million workers directly, accounting for 21% of the total employment generated in the economy.
Textile export market of India is expected to reach a high of $50 billion by 2010. To attain this target, Indian textile industry is focusing on improving their design skills and a combination of various other factors.
Indian textile industry is all set to meet international standards and is planning to invest $5 billion in machineries very soon.
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Fibre2fashion News Desk - India
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