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Textile industry rules economy

24
Feb '07
Although textile industry is facing many impediments, it is still the backbone of economy.

In 2016, textile exports are anticipated to reach US $50 billion leading to major source of development in economy.

About 40 percent of total industrial workers and 46 percent of total manufacturing are employed by textile and apparel industry.

In 2005, textile sector accounted for 25 percent of estimated gross domestic product (GDP) of $395.2 billion.

Out of foreign revenue generated from exports, 60 to 70 percent is contributed by production of cotton textiles and apparel.

In first quarter of financial year 2007, exports of cotton yarn stood at $362 million compared to $303 million of same period last year, a surge of 19.5 percent.


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