According to the Indian Brand Equity Forum or IBEF, the sector contributes about fourteen percent to industrial production, 4 percent to the country's GDP, and 11 percent to our export earnings. That makes this sector the second largest contributor to the Indian economy after agriculture.
Valued at nearly USD 89 billion in 2011, the textile and apparel industry is expected to grow by 9.5 percent annually to reach USD 221 billion by 2021. The government has also revived efforts. The National Textile Corporation, or the NTC, has received a facelift, mills are being modernized, and investments are being raised. Corporates including Bombay Dyeing, Raymond and Wardhaman Mills are also leading the growth.
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