The Textile industry was the major component of economic income in India. The first textile mills was set up of Mumbai in 1854.Gradually more textile mills begin to come up in places like Mumbai, Ahmedabed, Chennai & Indore. The textile industry is the second-largest employment generating sector in India. Even today, textile sector is one of the largest contributors to India’s exports with approximately 11% of total exports. So, the Indian textile industry is one of the largest in the world.
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The future looks promising, by both strong domestic consumption and export demand. The domestic textile industry is estimated to reach $250 billion by 2019 from $150 billion in November 2017, while cotton production in India is estimated to have reached 34.9 million in FY18. In FY19, growth in private consumption is expected to create strong domestic demand for textiles.
Textile and apparel exports are expected to increase to $82 billion by 2021. Exports of textiles and apparels from India reached $13.0 billion in FY2019. Manmade garments remain the largest contributor to total textile and apparel exports from India, contributing 24.53 per cent to total textile.
Indian textile industry currently estimated to be US $108 billion and expected to reach US $209 billion in the year 2021.The industry is the second largest employment generator after agriculture by employing 45 million people directly and 60 million people indirectly.
Indian textile industry currently possesses a share of 4.7% in the world market of textiles. The future for the Indian textile industry looks promising, by both strong domestic consumption as well as export demand.