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Even as most countries attracted less foreign direct investment last year, investment in India surged on hope its economy is set for take off.
- India is the world's second largest producer of textiles and garments.
- The Indian textiles industry accounts for about 24% of the world’s spindle capacity and 8% of global rotor capacity.
- The potential size of the Indian textiles and apparel industry is expected to reach $223 billion by 2021, according to a report by Technopak Advisors.
- The sector contributes about 14% to industrial production, 4% to the gross domestic product (GDP), and 27% to the country's foreign exchange inflows.
- It provides direct employment to over 45 million people. The textiles sector is the second largest provider of employment after agriculture.
- Textiles exports stood at $28.53 billion during April 2013–January 2014 as compared to $24.90 billion during the corresponding period of the previous year, registering a growth of 14.58%.
- The industry (including dyed and printed) attracted foreign direct investment (FDI) worth $1.11 billion during April 2000 to February 2014.