Textile Industry : Spins A Profitable Story

In India, the domestic apparel and textile industry comprises approximately 2 per cent of the country’s GDP and 7 per cent of industry output in value terms. The share of textile, apparel and handicrafts in India’s total exports stood at 11.4 per cent in FY21. India contributes 4 per cent share of the global trade in textiles and apparels and is known as one of the largest producers of cotton and jute in the world. Also, India is the second-largest producer of silk in the world where 95 per cent of the world’s hand-woven fabric comes from India. The country is the second-largest garment manufacturer in the world and has a textile industry that dates back centuries and comprises a variety of sectors, including hand-spun and hand-woven, as well as mills.