India is the largest democracy in the world. India has more than 1.2 billion people, which is the second largest population in the world. It is at the centre of south Asia.
Textile plays a major role in the Indian economy
It contributes 14 percent to industrial production and 4percent to GDP
With over 45 million people, the industry is one of the largest source of employment generation in the country
The size of India’s textile market in 2016 was around US$137 billion, which is expected to touch US$226 billion market by 2023, growing at a CAGR of 8.7 percent.Even today textiles sector is one of the largest contributors to India’s exports with approximately 13 percent of total exports.
The textile industry has two broad segments. First, the unorganised sector consists of hand loom, handicrafts and Seri culture, which are operated on a small scale and through traditional tools and methods. The second is the organised sector consisting of spinning apparel and garments segment which apply modern machinery and techniques such as economies of scale.