Pakistan and India are one of the world's major producers, consumers and exporters of raw cotton. Due to pest and disease problems, Pakistan's 1996/97 cotton crop is down 17 percent while a near perfect season has pushed India's production to near record level. The textile industry is the largest industry in both these countries, and raw cotton and value-added cotton (especially cotton yarn) are major foreign exchange earners. The outlook for the two countries indicates continued growth in cotton production and consumption, although cotton's share of total fiber is expected to decline. With the implementation of more open global trade policies in the future, Pakistan and India are expected to increase their production and exports of apparel and "other finished products."