India 's Role Of India

1425 Words Nov 19th, 2014 6 Pages
The role of this specialist is to determine the role of India in the world trade of textiles and apparel, the political and economic orientation of India and the adequacy of the infrastructure for trade, the currency used and the exchange rate that goes with it against the US dollar, and the opportunities for foreign investment.
According to Technopak Advisors, India is one of the largest textile producers in the world and is still growing. They are second only to their neighbors, China, and India is predicted to have a US$ 223 billion industry by the year 2021. In 2010 the Ministry of Textiles in India openly shared that textiles were responsible for 11.04% of India’s total exports. This year, according to ibef.org, textile exports were estimated to be around US$ 28.53 billion from April 2013 to January 2014. It is clear to see that India is a major player in the world concerning textile exports and manufacturing and according to Dr. A Sakthivel, Chairmen of the Apparel Export Promotion Council (A Brief Report Textile Industry in India, 2012), India will continue to advance and reach roughly US $60 billion over the next three years.
India started its rise in economy between 1975 and 1990 when its economic growth was at 5% or higher. After 1992 it jumped to more than 6% and then again in between 2003 and 2007 it reached 8.8% where it became one of the fastest growing economies in the world, after China. There is no threat here of a collapsing economy and all signs point…

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