(i) It occupies a unique position in the Indian economy because it contributes significantly to the industrial production (14 per cent).

(ii) It employs about 35 million people directly and earns foreign exchange of about 24.6 per cent.

(iii) It contributes 4 per cent towards GDP.

(iv) It is the only industry in the country which is self-reliant and complete in the chain of raw material to the highest value added products.