Question

Textile Industry is an example of……
A. Agro-based Industry
B. Co-operative sector Industry
C. Mineral-based Industry
D. Marine based Industry

Answer 1

Hint: Indian textile Industry is one of the oldest industries of the Indian economy, it is also a fact that the Indian textiles industry finds it difficult to compete with much smaller global players. Still, the textile sector is one of the best sectors. India is the World’s second-largest producer of textiles after China.

Complete answer:
The Textile Industry is an industry that is responsible for converting raw material into finished goods and also includes textile development, manufacturing, and distribution. Hence is an example of an Agro-based Industry.

Importance of Textile sector:
I. In India a strong domestic market is available.
II. The sector is responsible for 7% of India’s manufacturing output.

Challenges:
I. Outdated technology: The Indian textile industry has its limitations and access to the latest technology.
II. Highly Unorganized: The textile industry is highly influenced by the Unorganized sector and small and medium industries.
III. Lack of Foreign investment: Foreign investors are not very excited to invest in the textile sector.
IV. Tax issues: GST makes the garments expensive and uncompetitive in domestic as well as international markets.
V. Labour laws: India’s system of labor laws is rather highly complex. There are more than 200 labour laws.

Hence, the correct answer is option (C).

Note: The Indian textile Industry requires support from both the Central and State government.
The Skill India and make in India programs is helping the Industry in getting required skill and manpower and a good market for textile products. India can make the sector more organized so that it will scale up the production.