Contributions to the Indian Textile Industry

 Contributions to the Indian Textile Industry

Indian textile industry, the clothier of the globe evolved more than 5000 years ago and its presence in the entire value chain (farm to fashion) is progressing not only in the traditional market but also gaining foothold in the innovative functional textile products market, future of the textile sector. It is the 2nd largest employment provider in the country next only to Agriculture by providing direct and indirect jobs to around 115 Mn workforces, particularly the rural masses and women folks. It contributes to 12% of Industrial Production, 7% of India's GDP and 13% of Exports Earnings of the nation. The sector holds a massive 22% of world spindle capacity and installed the highest number of looms in the world. It is now the largest producer of Jute and second largest producer of Cotton, 2nd largest consumer and exporter of cotton and 2nd largest producer of silk, cellulosic and synthetic fibre/yarn. The Government has set a vision of reaching USD 1.8 trillion domesticm Market and USD 600 billion export market by 2047 for the textile industry. when the country would be celebrating its 100th year of independence.

Comments

Post a Comment

Popular posts from this blog

Challenges faced by CMA students & Smart strategies to succeed in Exams

What is CMA?   The Cost and Management Accountant (CMA) is a professional certification in management accounting and finance. The certification indicates that the individual is knowledgeable in the areas of financial planning, analysis, control, decision support, and professional ethics. There are numerous professional bodies worldwide that offer management accounting professional certifications. CMA (India) certification is issued by the Institute of Cost Accountants of India (ICMAI).  Strategic professionals known as Cost Management Accountants (CMAs) use their analytical skills to improve the performance and prosperity of the companies they work for. They usually operate in a variety of industries, such as government organizations, non-profits, and corporations. With titles like financial analyst, cost accountant, corporate controller, financial planner, or Chief Financial Officer (CFO), CMAs frequently hold important leadership roles. They actively participate in form...
Read more

TDS Rate Chart for FY 2025-26 AY 2026-27

  TDS Rate Chart for FY 2025-26 AY 2026-27 TDS (Tax Deducted at Source) rate chart is a comprehensive table that outlines the applicable tax deduction rates for various types of payments under the Income Tax Act, 1961. This TDS percentage chart specifies the percentage of tax to be deducted by the payer before making payments such as salaries, interest, rent, professional fees, and commissions. The TDS slab rates varies based on the nature of the transaction and the recipient’s category, such as individuals, companies, or non-residents. Updated annually in the Union Budget, the TDS rate chart helps taxpayers and deductors comply with tax regulations and avoid penalties for non-compliance.   Budget 2025: Key TDS Changes Effective from April 1, 2025 The Budget 2025 has revised threshold limits for TDS, ensuring that smaller transactions remain exempt from tax deduction, thereby reducing the compliance burden. These revised limits, effective fro...
Read more

Top 10 Jobs After BCom — Your Career Roadmap

 1. Chartered Accountant (CA) — Avg salary ₹7–25 LPA after qualification 2. Financial Analyst — Analyse markets, salary ₹4–15 LPA 3. Cost & Management Accountant (CMA) — Perfect for manufacturing firms 4. Company Secretary (CS) — Corporate legal compliance expert 5. Investment Banker — Work with stocks, mergers, and acquisitions 6. Tax Consultant — High demand in GST era, salary ₹3–10 LPA 7. Actuary — Maths + Finance = ₹10–30 LPA salary potential 8. Data Analyst — Trending role combining Excel/SQL with commerce 9. Stock Broker / Trader — Work in NSE/BSE, SEBI regulated 10. Entrepreneur — BCom gives the perfect base to start your own business!
Read more