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Mumbai: The ministry of textiles recently hosted 'Viraasat - Celebrating 75 Handwoven Saris of India,' a month-long mega event celebrating the beauty, diversity, and richness of India's handloom industry at Handloom Haat, Janpath, in New Delhi.
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The handloom sector, employing over 31.45 million individuals, contributes to about 12% of total domestic textile production in the country along with 95% of all the hand-spun fabrics produced globally. India is also among the very few countries in the world that can boast of the entire value chain - from farm (fibre) to manufacturers, existing within its own boundaries. While India leads the world in exports of raw materials such as cotton yarn, its share in the export of value added cotton fabrics for instance is very low. The competitors such as Vietnam have not only improved their yarn production but also expanded their export position by over 60% in the past decade, commanding 15% of the global market share while India remains at the lower end commanding less than 6%. Moreover countries such as China and Bangladesh import the bulk of the cotton yarn from India and are able to export the finished articles at better quality and cheaper rates than India.