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Showing posts from April 23, 2023

India Booming Economy

  India is one of the world's largest producers of textiles and garments The domestic garment and textile industry in India contributes approx. 2% of the country's GDP, 7% of industrial production in value. The share of textiles, garments and handicrafts in India's total exports was 11.4% in 2020-21. India holds 4% of the world trade in textiles and clothing. India is one of the largest producers of cotton and jute in the world. It is also the 2nd largest silk producer in the world and 95% of the hand-woven fabrics in the world come from India. India's technical textiles segment is estimated at $16 billion, or about 6% of the global market. The textile and garment industry in India is the 2nd largest employer in the country, directly employing 45 million people and 100 million people in related industries. India has also become the second largest PPE manufacturer in the world. More than 600 companies in India are now certified to produce PPE, which is expected to be