India’s textiles industry contributed seven per cent of the industry output in value terms in year 2019. It contributed two per cent to the GDP of India and employs more than 45 million people in 2019. The textile industry has around 4.5 crore workers employed in textiles sector including 35.22 lakh handloom workers all over the country.
The textile sector contributed 15 per cent to the export earnings of India in 2019. Exports of textiles from India is expected to reach US$ 82 billion in 2021 from US$ 39 billion in FY19. India’s textile and apparel exports stood at US$ 38.70 billion in FY19 and is expected to increase to US$ 82.00 billion by 2021 from US$ 22.95 billion in FY20.
The textiles sector has witnessed a spurt in investment during the last five years. The industry attracted Foreign Direct Investment (FDI) worth US$ 3.41 billion from April 2000 to December 2019.