Which is the oldest and most widespread industry in India?

Key Points

• Textile industry is the oldest and most widespread industry in India.
• It plays a significant role in the Indian economy by providing employment to millions and contributing substantially to the country's export earnings.
• The industry covers a wide range of activities from the production of raw materials like cotton, jute, silk, and wool, to the manufacturing of finished products like garments and apparels.
• India has a rich heritage of textiles, with a history that dates back to ancient times, when Indian textiles were highly sought after in international markets.
• The industry is known for its diverse range of products, including traditional handloom and handicraft items, as well as modern, machine-made fabrics.

Additional Information

• The Indian textile industry is one of the largest in the world, with a vast raw material base and manufacturing strength across the value chain.
• The industry contributes around 7% to India's industrial output in value terms, 2% to the GDP, and 15% to the country's export earnings.
• It is the second largest employer in the country after agriculture, employing over 45 million people directly and 60 million people indirectly.
• Government initiatives like the Textile Upgradation Fund Scheme (TUFS) and Make in India campaign have provided a significant boost to the sector.
• The sector is expected to reach USD 300 billion by 2025 with a CAGR of 10%.