Indian Textile Industry swings up in Japan..!

NewsBharati    18-Feb-2019
Total Views |
New Delhi, February 18: Flourishing the textile industry beyond the seas, the Indian embassy in Japan buoyantly organised a seminar on Textile Industry in India and the collaborative opportunities aligned. The Indian Textile ministry, Commerce and the heavy Industry ministry led by Raghvendra Singh, visited Japan acknowledging the market reach and the overall business. It saw participation of more than 80 business persons.
 
 
India Textile Industry is one of the leading textile industries in the world. Though was predominantly unorganized industry even a few years back, but the scenario started changing after the economic liberalization of Indian economy in 1991. The opening up of economy gave the much-needed thrust to the Indian textile industry, which has now successfully become one of the largest in the world.
India textile industry largely depends upon the textile manufacturing and export. It also plays a major role in the economy of the country. India earns about 37% of its total foreign exchange through textile exports. Further, the textile industry of India also contributes nearly 24% of the total industrial production of the country. It also contributes around 3% to the GDP of the country.
India textile industry is also the largest in the country in terms of employment generation. It not only generates jobs in its own industry, but also opens up scopes for the other ancillary sectors. India textile industry currently generates employment to more than 75 million people. It is also estimated that, the industry will generate 12 million new jobs by the year 2020.