Textile sector to contribute around ten million fresh jobs by 2009

16 May '05

3 min read

India's manufacturing is well poised to create 25 million new jobs of which textiles sector alone will provide for employment opportunities to 9-10 million people by 2008-09 and is also projected to substantially enhance its contribution to GDP, according to the findings of The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

In a White Paper prepared on `Manufacturing : India's Growth Locomotive', it has also been projected that the manufacturing exports from India will shoot up to US$ 100 billion by 2008-09 from its present level of about US$ 50 billion.

Releasing the Paper here, ASSOCHAM President, Mr. Mahendra K. Sanghi said that sectors which will have tremendous growth potential to accelerate manufacturing comprise machine tools, auto components, pharmaceuticals and engineering, besides textiles and therefore create ample opportunities for employment.

It may be mentioned here that the textile sector as of now alone provides direct employment to around 35 million people including manufacturers, suppliers, wholesalers and exporters of cotton textiles, handlooms and woolen textiles. The contribution of manufacturing sector as a whole to India's GDP today staggers around 17% compared to China, Korea and Thailand where it forms around one third of their GDP.

In a bid to achieve the projected acceleration in manufacturing growth, the focus and efforts of the policy makers should be towards creating environment for higher investments and also induction of technologies in sectors such as textiles, engineering, auto components and machine tools.

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