'Textiles sector' for Economic Editors' Conference - MoT
09 Nov '06
3 min read
Ministry Of Textiles (MoT) releases the background note on 'Textiles Sector' for the Economic Editors' Conference (7-8 November, 2006).
Introduction The Indian Textile Industry has an overwhelming presence in the economic life of the country. Apart from providing one of the basic necessities of life i.e. cloth, the textile industry contributes about 14% to the country's industrial output and about 17% to export earnings.
It provides direct employment to about 35 million persons including substantial segments of disadvantaged sections of the society and women. Besides, another 50 million people are engaged in allied activities.
Industry Vision 2010 Accordingly to a study by CRISIL (commissioned by ICMF in 2004), the Indian textiles and apparel industry is poised to attain a potential size of US$ 85 billion by 2010, of which, the domestic market potential would be US$ 45 billion and export potential would be US$ 40 billion. Nearly 60% of exports would comprise garments.
The momentous growth in the textile economy from US$ 37 billion to US$ 85 billion would generate over 12 million new jobs mainly for semi-skilled and unskilled labour, in tune with the main policy objectives of the Common Minimum Programme of the UPA Government. Direct employment opportunities of 5 million jobs are envisaged, of which 4 million would be in the apparel segment. Another 7 million jobs are expected to be generated in the allied sectors, primarily in cotton and jute farming and related activities.
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