The textile industry is primarily concerned with the production of yarn and cloth and its designing, manufacture of clothing and their distribution. The raw material may be natural or synthetic using products of the chemical industry. India is the second largest producer of textiles and garments in the world. Abundant availability of raw materials such as cotton, silk, wool and jute as well as skilled workforce have made the country a sourcing hub. Cotton is the world’s most important natural fiber.
In India the textile industry has made a major contribution to the national economy in terms of employment generation and net foreign exchange earnings. The sector contributes about 14 percent to industrial production, 4 percent to the gross domestic product (GDP), and 27 percent to the country’s foreign exchange inflows. The textile sector is the second largest provider of employment after agriculture. Thus, growth and all round development of this industry has a direct bearing on the improvement of the India’s economy.
The most significant change in the Indian textile industry has been the advent of man-made fibers. This includes synthetic fibers and natural fibers. Natural fibers are either from animals like sheep, goat, rabbit, silk-worm, mineral asbestos or from plants like cotton, flax, sisal. These vegetable fibers can come from the cotton seed, the stem known as bast fibers: flax, Hemp, Jute or the leaf sisal. India has successfully placed its innovative range of fiber textiles in almost all the countries across the globe. The textiles sector has witnessed a spurt in investment during the last five years. The industry including printed and dyed gets attraction from foreign direct investment. The key to success in the textile industry is having a highly efficient and productive work force.
In our later posts, we will discuss more about latest trends in Indian Textile Industry