The year 2011 witnessed substantial developments in the industrial sectors of the Indian economy. The textile industry in India is known to be the second largest industry in the world. Most of the development of other industrial sectors in the economy can be attributed to the success of the fabric industry in the country. The profits generated by this industry has contributed to the growth and accelerated development of various industries and factories in the country.
India is the third largest producer of cotton in the world. A large share of the Indian exports includes cotton fabrics and garments. The Indian garments are known for its superior and top-notch quality. Ready made garments, silk garments, handloom, jute, coir and woolen garments are sold in bulks in the international markets. A large share of the gross revenue of the country is generated by the textile industry of the country.
Present Scenario of the Textile Industry
The growth and development of the fabric industry has led to a consecutive growth of employment opportunities, increase in the sale of machineries utilized in these industries and so forth. According to the recent surveys, 14% of the total industrial output is derived from this industry. The sector is also known to produce a huge potential for employment opportunities with the development of various fabric industries in the country.
The machineries used to manufacture textiles have progressed to a large extent with the development of science and technology. In the past five years, the fabric industry has witnessed several developments and changes. Various methods have been adopted to meet the international standards in the global markets. Research and development has been conducted in various fields to augment the progress of the industrial sector in India.
With the development of the fabric industry, there has been a subsequent growth of machinery industries in the country. Various machines such as embroidery machines, crushing machines, knitting and spinning machines and so forth are in great demand in the domestic and international markets.
The agricultural industry has also developed significantly with the development of fabric industries. The production of various raw materials such as cotton, silk, coir and jute has led to an increase in the total revenue of the country. It has also increased the overall production of different types of fabrics.
In addition to these sectors, the IT industry and the packaging industry has also developed simultaneously. The government has taken many initiative steps to develop various industrial sectors in the country. The past five years witnessed a great boom in the field of Information Technology. Various projects are outsourced to the Indian software experts that have led to the growth of the Indian industry of Information Technology.
The development and growth of the industrial sector depends on several factors which include the availability of skilled manpower, supply of good quality raw materials and proper infrastructural facilities. The government has introduced several policies to improve industrial growth of the country and double the per capita income by the year 2016.