Textile industry in India, traditionally, except for agriculture, is the only industry in the textiles area that is generating employment for both qualified and for unskilled labor. According to the data of the Ministry of Textiles in India, the textile-apparel industry, offering more than 35 million people employment, covers around 14 percent of the industrial production. Although an 8 percent growth has been seen in the manufacturing industry, in the 2011-2012 fiscal year, a growth rate of 16.4 percent has been realized in the textile and apparel sector. In 2013,where 17 billion dollars worth of exports and 32 billion of dollars gained in domestic sales, the Indian textile sector constitutes 4 percent of the gross domestic product.
According to the data, the textile sector in India will be continuing in its growth and estimations are that in 2015, 12 million more people will be provided with employment. In addition to this, due to the removal of quotas in India, expectations are; increased exports, this in 2015 to reach to 50 billion dollars and also 50 billion dollars worth of sales is expected in the domestic market.
The Value of Indian Machinery Manufacturers is Increasing
In such a large industry, textile machinery production has also shown a significant improvement. According to the data provided by the Indian Textile Machinery Manufacturers Association (IMMA), India has been showing a significant improvement in the last 50 years and has reached an important point in the world especially with the studies made in R&D. Increasing their awareness by each passing day, the Indian machine manufacturers are exporting 30 percent of their production.
Approximately 600 machine manufacturers and 1446 textile machinery spare parts manufacturers, members of the IMMA, is rapidly developing especially in the spinning sector. The developing India machinery manufacturers, in accordance with the rapid growth in demand, are day-by-day increasing their effectiveness since 1999, by the implementing incentive measures provided to the textile sector by the Indian government and by the foreign investors.
