10 Fascinating Facts about Indian Economy
Fact3# 11th in the World In Terms Of Nominal Factory Output
According to the CIA World Fact Book, India is 11th in the world in terms of nominal factory output.
The Indian industrial sector had undergone significant changes as a result of the economic liberalization in India economic reforms of 1991, which removed import restrictions, brought in foreign competition, led to the privatization of certain public sector industries and liberalized the FDI regime.
Fact4# Textile Manufacturing Is the Second Largest Source of Employment
Textile manufacturing is the 2nd largest source of employment after agriculture and accounts for 20 percent of manufacturing output, providing employment to over 20 million people.
The share of textiles in total exports was 11.04 percent during April–July 2010, as per the Ministry of Textiles. During 2009-2010, Indian textiles industry was pegged at $55 billion, 64 percent of which services domestic demand.