THE PERFORMANCE OF TEXTILE & APPAREL INDUSTRIES IN INDIA AND ITS FUTURE PROSPECTS

Textiles in India have long history dating back to more than 5000 BC and there
were archeological evidence that we had an abundant resources and forefront in
supplying the finest textile products to the rest of the world. This sector cannot be
ignored because it is the second largest sector providing employment opportunities
both organized and unorganized sectors. The textile industry employs about 51
million people directly and 68 million people indirectly. The textile industry has two
broad segments. First, the unorganized sector consists of handloom, handicrafts and
sericulture, which are operated on a small scale and through traditional tools and
methods. The second is the organized sector consisting of spinning, apparel and
garments segment which apply modern machinery and techniques such as economies
of scale.
The Indian textile industry exhibits rich cultural heritage of India with wide
variety of fabrics, techniques and hues that reflect the diverse set of people and traditions across the count ry. One of the oldest industries in India, it covers an extensive spectrum of segments, from hand woven/hand-spun, unorganized segment on one end to capital and technology intensive organized segment on the other. India is the largest producer of Jute in the world and is the second largest producer of silk and cotton globally. This article explores with the current performance of Indian Textile and Apparel industry & Government policies and future of this sector.