EconomyGS3-Economy
What Ails India’s Textile Industry?
The article discusses the challenges faced by India's textile industry, including sluggish growth and low export competitiveness.
February 25, 2025
Key Points
- 1India's textile industry is among the largest in the world.
- 2India lags behind countries like China, Vietnam, and Bangladesh in textile exports.
- 3India is the second largest producer of cotton, accounting for 24% of global production.
- 4The textile and apparel industry contributes 13% to industrial production, 12% to exports, and roughly 2% to GDP.
- 5In FY24, exports stood at $34.1 billion.
- 6India lags behind China, Vietnam, and Bangladesh in textile exports, largely due to higher production costs.
Important Terms
Textile IndustryExportsCottonMSMESustainability
UPSC Current Affairs
Last Updated: 5/31/2025