India’s textiles sector is one of the oldest industries in Indian economy dating back several centuries. India's overall textile exports during FY 2017-18 stood at USD $39.2 bn in FY18 and is expected to increase to USD $82 bn by 2021 from USD $31.65 bn in FY19.
Abundant availability of raw materials such as cotton, wool, silk, jute and manmade fibres has led India to be one of the world's largest producers of textiles and garments. The country has become an attractive destination for FDI in the Indian textile industry thanks to foreign direct investment policy in textiles. The Indian domestic textile and apparel industry contributes 2% to India’s GDP, 14% of industrial production, 27% of the country’s foreign exchange inflows and constitutes 13% of country’s export earnings. Exports in the Textiles & garments industry are expected to reach $300 bn by 2024.
Largest producer of cotton and jute in the world
2nd largest producer of polyester, silk and fibre in the world
2nd largest employment provider in India
The Indian textiles industry, currently estimated at around USD $150 bn, is expected to reach USD $250 bn by 2021
India’s textile and apparel exports stood at US$ 38.70 billion in FY19.
The sector's share in India's GDP is 2.3 per cent.
Out of $137 bn, textile worth $97 bn was domestically consumed while the remaining portion worth $40 was exported to the world market
The domestic consumption of $97 bn was divided into household consumption at $83 bn and the technical textiles at $14 bn
India attracted (including dyed and printed) Foreign Direct Investment (FDI) for garment industries worth USD $3.09 bn during April 2000 to December 2018
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