Changing Scenario of Indian Textile Industry Under Gatt and Wto Regime

Textiles industry is one of the leading industries in India in terms of its contribution to employment, output and exports. Rapid changes in the World trading system have endangered the stability of the textile industry and created an atmosphere of uncertainty and turbulence in the industry^. But it is also a fact that turbulence is necessary for any change in the system. If there is insecurity inherent in the globalized economy, there is also opportunity – opening up of vast markets to Indian textiles and Indian clothing that were earlier closed or regulated and Indian textile industry is ready to take up this opportunity of free trade and secure its well deserved position in the international textile arena. Study provides a brief overview and growth of Indian textile industry during liberalization era. It examines the main segments of the industry along with country's exports profile and foreign exchange earnings from the industry.