The textile sector, one of the oldest industries in the country, still continues to be critical for the sustainability of the Indian economy. Contributing about 2% to India’s GDP, the labour-intensive sector, is the second largest employer in the country after agriculture. India is also a major exporter of textiles, accounting for 8–9% of total exports.
However, given the Covid-19 scenario and the ongoing issues in the global market, domestic production has turned sluggish. There are many issues that the government must tackle, such as the move away from cotton by the Western market, LDCS grabbing a greater chunk of the global share, and the harsh environmental and quality standards being imposed by the West.
In this episode, businessline’s Amiti Sen talks to Ajay Sahai, Director General and CEO, the Federation of Indian Export Organisations (FIEO), to understand the changing dynamics of the Indian textile industry. Listen in! (Host: Amiti Sen, Producer: Nabodita Ganguly)
_______________________ About the State Of The Economy podcast
India’s economy has been hailed as the bright spot amid the general gloom that seems to have enveloped the rest of the world. But several of its sectors still stutter about even while others seem set to fire on all cylinders. To help you make sense of the bundle of contradictions that the country is, businessline brings you podcasts with experts ranging from finance and marketing to technology and start-ups.