INDIAN TEXTILE INDUSTRY AT A GLANCE IN 2020 - 2021
Indian textiles and apparel industry contributed 2.3% to the GDP of India, 13% to industrial production and 12% to export earnings in 2020. The Indian Textile industry is one of the oldest industry in India that provides direct and indirect employment to millions of people across the subcontinent.
Better availability of raw materials and low cost labour are strong points that propel the Indian Textile Industry. Though the textile industry slumped in 2020 due to the corona virus outbreak and the resulting lockdown, things are looking up better with the containment in sight.
- The share of India’s textiles and apparel exports in mercantile shipments was 11% in the year 2020.
- Textiles industry has around 4.5 crore employed workers including 35.22 lakh handloom workers across the country.
- Cotton production is expected to reach 36.0 million bales and consumption is expected to reach 114 million bales in FY21, a 13% growth over the previous year.
- The production of fibre in India stood at 1.44 million tonnes (MT) and reached 1.60 MT in FY20 (till January 2020), while that for yarn, the production stood at 4,762 million kgs during same period.
- Exports of textiles stood at US$ 26.08 billion, as of February 2021.
- Exports of readymade garments was worth US$ 1.19 billion as of December 2020.