India currently has the second largest textile sector in the world, after China. But the differences in the shares in international trade and in the sizes of the industries in these two countries are huge. China had nearly 35% of world trade in textile products in 2010 as per WTO’s data, as against our share of 4%. However, economic and market conditions indicate that, in spite of the present temporary setback, this sector has sustainable and long term growth prospects in India, unlike in China which is expected to face increasing problems in sustaining this highly labour intensive industry in the wake of increasing wages, labour militancy and other problems. |