Economics · Indian Industries
Which one of the following statements is NOT correct regarding the textile sector in India?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The textile sector is a major absorber of low-skilled labor.
- 2The textile sector has a natural tendency to shrink in absolute terms as the GDP and economy grow.✓
- 3After agriculture, it is the second-largest provider of employment in India.
- 4India's textile and clothing sector directly employs over 35 million people.
Correct answer
The textile sector has a natural tendency to shrink in absolute terms as the GDP and economy grow.
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