â??The textile industry occupies a unique position in Indian economy.â?? Elaborate this statement with appropriate arguments.

Textile industry is the only industry in the country which is self-reliant and complete in the value chain. It occupies unique position in Indian economy for the following (i) Contribution to Industrial Production: The share of textile industrial production is about 14% making it one of the largest industry in India. (ii) Employment: Generation This industry generates employment for more than 35 million persons directly orindirectly. (iii) Demand: Creation Textile industries create demand for other industries such as chemicals, dyes, packaging materials and engineering works. (iv) Contribution to GDP and Foreign Exchange: Textile industry contributes 4% to India’s G.D.P. It also helps in earning 24.4% of the total foreign currency drawn in the country. Thus, it can be concluded that the textile industry occupies a unique position in Indian economy. read less