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Question
'Textile industry occupies a unique position in Indian economy." Support the statement with appropriate arguments.
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Solution
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.
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| Challenges faced by the Jute industry include stiff competition in the international market from synthetic substitutes and from other competitors like Bangladesh, Brazil, Philippines, Egypt and Thailand. However, the internal demand has been on the increase due to the Government policy of mandatory use of jute packaging. To stimulate demand, the products need to be diversified. In 2005, National Jute Policy was formulated with the objective of increasing productivity, improving quality, ensuring good prices to the jute farmers and enhancing the yield per hectare. The main markets are US.A., Canada, Russia, United Arab Republic, U.K. and Australia. The growing global concern for environment friendly, biodegradable materials, has once again opened the opportunity for jute products. |
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