“ The textile industry is the only industry in the country which is self reliant and complete in the value chain”. Justify the statement.
The textile industry occupies unique position in the Indian economy because:
- It contributes significantly to industrial production. It contributes about 14 percent of the total industrial production.
- It provides employment. More than 35 million persons are directly engaged in textile industry.
- It earns about 24.6 percent foreign exchange.
- It contributes 4 percent towards GDP.
- Thus, textile is the only industry in the country which is self-reliant and complete in the value chain from raw material to the highest value added products.