'Textile industry occupies a unique position in Indian economy." Support the statement with appropriate arguments.
Cotton textile industry occupies a unique position in the Indian economy because of the following reasons:
a. It is one of the largest industry in India with 1,600 cotton textile mills situated across 80 towns and cities.
b. It is one of the most important source of employment. It has been estimated that it accounts for 20% of our industrial workforce.
c. There is a large market for cotton textiles within and outside country.
d. Large amount of cotton is exported, significantly adding to the inflow of foreign capital. In fact, India is one of the largest exporter of cotton textiles in the world.