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Deregulate handloom sector to attract FDI in textile: ASSOCHAM

02 Aug '08
4 min read

The Chamber is also of the view that Indian textiles are the largest single net foreign exchange earner of the country, contributing 19% of in total export earnings.

It exprots textiles of diverse kinds from a wide variety of fibres-natural fibres, regenerated cellulose fibres and synthetic fibres.

Despite the competition from the low cost supplier like Bangladesh, China and Pakistan textile exports performed well during the recent years.

The textile sector occupies a unique position in Indian economy contributing to nearly a third of the country's export earnings and accounting for around 14% of the total industrial production.

It provides direct employment to around 35 million people including manufacturers, suppliers, wholesalers and exporters of cotton textiles, handlooms, woolen textiles etc from the production of textile machinery and equipment, dyes and raw materials to the delivery of finished textiles, fabrics and garments.

There are 2722 textile mills with a spinning capacity of about 37.34 million spindles. The Indian textile industry continues to be predominantly based on cotton, with about 56% cotton and 34% other raw materials being consumed.

Associated Chambers of Commerce and Industry of India

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