10 NUMBERS THAT SAY IRANI’S MOVE TO TEXTILES IS NOT A DEMOTION
Smriti Irani lost the HRD ministry to Prakash Javadekar in the reshuffle. Her two-year tenure saw several controversies and her shift to the textile ministry is seen as a less glamorous assignment. However, her current portfolio is no less significant. Here’s why:
$100 billion Size, by revenue, that the textile and apparel industry is projected to reach by 2016-17, from $67 billion in 2013-14
$300 billion is the value the new textile policy aims to clock in exports by 2024-25
35 million is the number of additional jobs the new textile policy aims to create
$36 billion is the amount textile and garment exports earn every year, which is equal to 14% of India’s export earnings
100 is the number of countries to which India exports its textiles and garment. The US and the EU account for two-thirds of India’s textiles exports
2% of GDP is accounted for by the textile industry, making it crucial to the economy
45 million people are employed directly in the textile industry, making it the largest employer after agriculture
10% is the industry’s contribution to overall manufacturing production in the country
`6,000 crore is the special package cleared by cabinet for the textile ministry, just days before the reshuffle
$2bn Amount of Foreign Direct Investment (FDI) attracted by the textile industry so far during April 2000 to March 2016.
“I am happy that I have been given an opportunity, especially when a special package has been announced for the sector. This signifies that my party, and especially the Prime Minister, has faith that I have the capacity to implement the roadmap that was projected through the cabinet for the rest of the country,” Irani said. She added that she was hopeful that the much-awaited new national textile policy “will soon see the light of the day”.