“India has all the potential to beat China through the textile
industry,” said Digvijay Singh, General Secretary of the All India
Congress Committee at a conference organized by the Synthetic &
Rayon Textiles Export Promotion Council SRTEPC), in Mumbai”.Indian
textile industry is one of the most important sectors of the country’s
economy contributing 4 percent of GDP, 14 percent of industrial
production, 17 percent of export earnings ..Currently, the industry is estimated to be around $52 billion and is also projected to be around $115 billion by the year 2012 ..The
textile export of the country was around $19.14 billion in 2006-07,
which saw a considerable rise to reach $22.13 in 2007-08 ..The share of exports is also expected to increase from 4% to 7% within 2012 .