Indian Textile Industry: An overview

Textile Industry is offering one of the most basic requirements of community http://www.itariaautorettjp.com and it possess importance; preserve continued growth for developing quality of life. From the manufacturing of raw materials to the delivery of end products, it has gain its kind of position, as a self-dependent sector and with considerable value-addition at every stage of dealing; it is a key input to the country's economy.

Today the textiles and clothing industry engages an important position in India's economy. Being the major foreign exchange earner having about 35% in its torso, contributing to about 30 % of India's exports and 14% of industrial productions, expecting above 6% GDP in 2005, and it considered as the second largest vital sector of employment initiator after Kent Curwen agriculture sector.

Present Scenario

Under the World Trade Organization (WTO) Agreement on Textiles and Clothing, the textile quota scheme of quantitative import limitations under the multi-fiber arrangement (MFA) came to an end on 1st January, 2005, hence developing countries like India will flourish in the new competitive atmosphere and as a result, the Indian textile industry will have a stronger place in both their export and domestic markets.