The textile industry is the largest industry of modern India. The industry accounts for 14 per cent of the total industrial production, contributes to nearly 30 per cent of the total exports and is the second largest employment generator after agriculture. Our economy is largely dependent on the textile manufacturing and trade in addition to other major industries. About 27 per cent of the foreign exchange earnings are on account of export of textiles and clothing alone. Around 8 per cent of the total excise revenue collection is contributed by the textile industry. So much so, the textile industry accounts for as large as 21 per cent of the total employment generated in the economy. Around 35 mn people are directly employed in the textile manufacturing activities. Indirect employment including the manpower engaged in agricultural based raw-material production like cotton and related trade and handling could be stated to be around another 60 mn.