India's Textils sector is one of the oldest industries in Indian economy dating back several centuries. The Indian Textile Industry contributes approximately 5% to India's gross domestic product (GDP) and 14% to overall Index of Industrial Production (IIP). Currently estimated at around USD 108 billion, the size of Indian Textile Industry is expected to reach USD 223 billion by 2021. Textiles sector remains as one of the largest contributors to India's exports with approximately 27% of total exports earning in 2015. The industry realized their export earnings are worth USD 41 billion in 2015 at a growth of 5.4 %. India enjoys a significant lead in terms of labor cost per hour over developed countries and the newly industrialized economies like Hong Kong, Taiwan, South Korea and China. India hosts roughly 25% of the global spinning capacity, 45% Power loom production and 20% global cotton production (2nd largest cotton producer) and generates 21% employment.

West Bengal Government Initiatives
The State Government envisages developing West Bengal as a competitive textile hub by increasing its share from the current 6% to at least 12% in next few years. To fulfil this objective, following initiatives have been introduced:

• The integrated textile development project (TB < PRO BEN - GAL) of 13 Textile Parks (about 500 acres/200 hectare) are under 4 broad categories, viz, Apparel & Garments; Dyeing & Processing; Power loom& Apparel and Technical Textiles
• Financial assistance for cluster development, water conservation, environmental compliance, standard quality compliance, market development, branding & designing.
• Land free from all encumbrances offered for development ofinfrastructure under Private Public Partnership mode.
• Infrastructure like access roads, power substations, Common Effluent Treatment Plant (CETP) supported by the State Government.
• Fiscal incentives for units to be set up in different Textile Parks, such as capital investment subsidy, interest subsidy, power tariff subsidy, exemption of stamp duty, reimbursement of VAT, reimbursement of electricity duty, Entry Tax concession, etc. as per the Textile Policy of the State.
• Additional fiscal incentives on export of technical textiles
• Exclusive single window, time-bound statutory clearances in advance for each unit set up in these Parks.

Opportunities

• Setting up of manufacturing Plant for spinning, weaving and knitting sectors.
• Setting up of chemical industry to meet up the requirement of chemicals and dyes.
• Setting up of manufacturing machines for jute textiles and Technical Textiles.
• Setting up Design Centre for Handloom, Power loom and other sectors.

These industries will not only meet the requirements of West Bengal and rest of India but also meet substantial requirements from neighbouring countries like Bangladesh, Nepal, Bhutan, Sri Lanka and other South Asian countries.