How does textile industry occupy a unique position in Indian economy? Explain giving any five points.
TEXTILE industry contributes significantly to industrial production. It contributes 14 per cent of the total industrial production.
- It employs largest number of people after agriculture sector. More than 35 million persons are directly engaged in textile industry.
- Its share in the foreign exchange earnings is about 25%.
- It contributes 4 per cent towards GDP.
- From raw material to the highest value added products, it is the only industry in the country which is self-reliant and complete in the value chain.
- Cotton, jute, silk and woollen textiles come under textile industry.