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Question
Why does the textile industry occupy Unique position in the Indian economy. Explain.
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Solution
- The textile industry occupies unique position in the Indian economy, because it contributes significantly to industrial production, employment generation and foreign exchange earnings.
- It is the only industry in the country, which is self-reliant and complete in the value chain i.e., from raw material to the highest value added products.
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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. |
- Mention any two challenges faced by jute industry in India.
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- How has jute industry once again opened the new opportunities for its products?
