Cotton production has been one of the top sectors to contribute to the GDP of the Indian Economy. About 5% of the total GDP is from cotton production which is a major part. This is the reason that the Government of India is focusing on this specific sector.
To overcome the setback of the old form of farming is necessary to grow the production method. The new techniques and processes are more scientifically fit for the high rate of cotton production. This is enabling to benefit nature and the process of farming along with the farmers.
Considering cotton as the dominant crop helps in the industrial as well as the agricultural sectors that are directly connected to the GDP of India.
Consumption of cotton variants
India started to increase its financial growth from 2005 when 4.7 million bales of cotton were exported. But compared with the advanced techniques the production was comparatively less. The expectation of exporting is up to 80 % which means this will help in increasing the GDP from 5 %. Cotton is a necessity for different uses apart from daily clothing.
30 % of the cotton production is under the Public and Cooperative sectors. While the best part of the production is under the Private sector. The increase in export has risen to 29 million which is a great improvement in the cotton industry.
Extensive measures are taken to change the farming methods, solving issues related to water and soil conditions.
Cotton production to textile
India is one of the largest producers of clothing, apparel, and textiles. The contribution is not only for an international purpose but also for the country. The Domestic indulgence to GDP is 2% while the 12% of India’s total export earnings.
The textile industry is directly and indirectly connected to the development of the Indian economy after cotton productions. Variants are in handloom, silk, woolen, and fashionable clothes industries. Due to the pandemic Covid-19, there has been a decline in the progress graph throughout the cotton industry. But as the development was accelerating the domestic growth could reach $140.4 billion.
Cotton production uses in domestic sectors earn about $7 billion for home furnishings such as curtains, sofa, cushions, and carpets. The highest requirement is in the apparel sectors to $100 billion. It is an introduction of the earnings that are providing to the economy of India. In 2016, the Government of India had issued a fund of Rs. 6000 crore for helping in the growth of the cotton and textile industry. Later funds were added to support the handlooms and knitting industries for types of equipment and machinery.
Growth In GDP
India expects to increase the GDP growth to 10% to 15% if the production processes continue to improvise for exporting by 2025. But it is obvious that the progress will be shattered to a far extent due to the sudden pandemic issues.
Apart from it India is one of the highest producing PPEs and about more than 550 companies work in producing PPEs. The entire progress of the cotton production ensures to overcome China and ensures a stronger platform for domestic and international business.