Rapid Growth Of India'S Textile Industry

2008/11/4 13:34:00 23

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In October 27th, Wagle, Minister of textile industry of India, said that India's textile industry has been developing rapidly in the past 4 years, due to the government's proper financial and other incentive policies.

"The greatest achievement of the government is the pformation of India's textile industry from the sunset industry into a sunrise industry in the past 4 years," he said.

He said that since 2004, investment in India's textile industry has soared, cotton production has increased rapidly, and export growth has also been promoted.

The cotton minimum purchase price system implemented by the government has stabilized cotton production and protected the long-term interests of cotton farmers and textile industry.

This year, India cotton Limited's market purchase price has increased by 39-40% over last year.

During the period 2004-08, the investment in the textile industry reached 100 million rupees per year. By 2012, it was expected to reach 150 million rupees, and the textile industry will create 17 million 300 thousand new jobs.

In the 2007-08 fiscal year, India's cotton output reached 31 million 150 thousand packs, and the 2008-09 fiscal year will reach a record 32 million 200 thousand packs.

India is the second largest cotton producing, exporting and consuming country in the world.

Cotton accounts for 60% of total fiber consumption, and cotton accounts for 70% of the total textile and clothing exports.

The yield per unit area of cotton increased from 400 kg per hectare in 2004 to 591 kg in 2008.

The government will continue to support the development of the textile industry through the establishment of several textile industrial parks and related training bases in the future.