A Brief Understanding of the Indian Textile Industry

The Indian textile industry plays a significant role in the progress of the Indian economy. It is one of those sectors which have succeeded in expanding its business in many verticals. The textile industry in India dates back to many centuries. Today, it is one of the well known industries in the world.

The Pride of India

The Indian textile industry is rightly known as the pride of India. Providing employment to more than 30 million people, the textile industry has ventures in many parts of the country. Earlier, the industry was based in Mumbai but later on it began to expand its branches in other parts of the country like Madras and Gujarat.

Apart from agriculture, the Indian textile industry is one of the most important sectors that provide employment to a large population and thereby contribute to the economic and financial growth of the country.

It is a sector which promises progress if entrepreneurs are willing to innovate. The Indian fabric is in great demand in the world market and more and more people are fascinated by the earthly color and soft texture of the Indian textiles. This is exactly the reason for the growing demand of Indian fabrics in the international market.

It is quite an interesting fact to note that more then 30 percent of the total exports of the country comprises of textile products. It is known to be one of the most profitable sectors in the field of business.

The textile industry includes cotton textiles, jute, woollen textiles, coir, silk, man made textiles and so forth.

Reasons Why the Indian Textile Industry has flourished

India is a bundle of resources and this has proved to be fruitful to the textile industry. Compared to the countries all over the world, India is the largest producer of cotton yarn.

Another reason for the growth of the Indian textile industry is the availability of cheap and efficient labour power. The presence of technically trained and efficient manpower has led to the tremendous growth of the industry.

However, the textile industry in India faces many challenges and it requires certain measure to upgrade the sector. The government has undertaken policies to ensure proper support to the textile industry and meet their requirements.