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Your go-to source for news, anytime, anywhere! Insightful industry information from the textile, apparel & fashion world with our news app
Download Now
Your go-to source for news, anytime, anywhere! Insightful industry information from the textile, apparel & fashion world with our news app
Download Now
Happy days for textiles
08 Nov '06
1 min read
As per the data available from the World Trade Organisation (WTO), India's share in the world textile and clothing trade during 2004 was 4 percent and 2.8 percent respectively.
On the home ground the Indian textile industry contributes about 4 percent to the national GDP (Gross Domestic Product) and about 35 million people are employed in this industry.
Though India's textile export has been dominated by cotton products, during 2004-05, the export of synthetic and rayon textiles from the country evidenced a growth of 6 percent over the previous year.
Meanwhile, the USA and the European Union (EU) put a strict restriction on the import of textile products from China, Indian textile industry shall gain a foothold in both the markets. India has a clear cut advantage over China, in the availability of fibres such as cotton and jute.
This will definitely enhance India's presence in the global market in the textile and clothing export.
On the home ground the Indian textile industry contributes about 4 percent to the national GDP (Gross Domestic Product) and about 35 million people are employed in this industry.
Though India's textile export has been dominated by cotton products, during 2004-05, the export of synthetic and rayon textiles from the country evidenced a growth of 6 percent over the previous year.
Meanwhile, the USA and the European Union (EU) put a strict restriction on the import of textile products from China, Indian textile industry shall gain a foothold in both the markets. India has a clear cut advantage over China, in the availability of fibres such as cotton and jute.
This will definitely enhance India's presence in the global market in the textile and clothing export.
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