“The textile industry occupies a unique position in Indian economy.” Elaborate this statement with appropriate arguments.
Textile industry is the only industry in the country which is self-reliant and complete in the value chain. It occupies unique position in Indian economy for the following
(i) Contribution to Industrial Production The share of textile industrial production is about 14% making it one of the largest industry in India.
(ii) Employment Generation This industry generates employment for more than 35 million persons directly or indirectly.
(iii) Demand Creation Textile industries create demand for other industries such as chemicals, dyes, packaging materials and engineering works.
(iv) Contribution to GDP and Foreign Exchange Textile industry contributes 4% to India’s G.D.P. It also helps in earning 24.4% of the total foreign currency drawn in the country.
Thus, it can be concluded that the textile industry occupies a unique position in Indian economy.
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