The Online Solution To Stop Fraud In Textile Market

With more monetary freedom at one’s disposal, global consumerism is on an upswing. For the consumer fraternity, the textile market and apparel industry have been amongst the favorite sectors to shell out the bucks. The shift in demographic preferences can be easily figured out from the emerging market trends highlighting the global demand for apparels and the corresponding market competitions in place. The textile industry is representative of a variegated spectrum of activities ranging from cottage spinning and weaving sector at one end and capital intensive mills at the other.

Is The Internet The Right Stimulus For Indian Textile Industry?

India, the second-largest producer of textiles and garments, has been eyeing to be a sourcing hub, riding on the back of a skilled labor force and opulence of cheap raw materials. With Indian Textile Industry accounting for a quarter of the global spindle capacity, its potential size is speculated to reach US$23 billion by the end of this decade.

Being the second largest employment generating sector in the country after agriculture, Textile Industry has got a huge bearing on the country’s economy. Hence, a holistic development of this sector is imperative for GDP expansion. Infusing the right kind of technology with this industry is definitely the roadmap to tap the entire market potential.

Effects Of Chennai Flood On Indian Textile Industry

The recent flooding in the city of Chennai has had an adverse impact on a large number of both residential as well as commercial projects in and around the city. And the humongous loss of functionality as well as property also enveloped the textile industry of the area. Pertaining to the rains, even the festive sales for Christmas have taken a hit, thus worsening the already grim situation.

Benefits of Digital Textile Printing

Digital Printing in context of textiles refers to a printing method whereby a digital image is printed directly to a fabric, or cloth material. Here, the dye-sublimation printer executes the process of printing through the use of heat in order to transfer the dye on the printing medium. Simply put, once the design is created and finalized, and uploaded on the printer, the process of printing becomes as seamless as that on paper. The digital textile printing is a technique that is quickly picking up, due to its ease of use and other significant benefits, the most important of which are discussed below. 

Nano-Filtration - An Effective Way For Textile Effluent Treatment

The 21^st century has brought upon the global textile industry, the urgent need to reduce the water wastage, pertaining to the manufacturing process. This need has been further pressed by the fact that regulations on the discharge of effluent have been tightened all across the globe. Textile as an industry expels humongous amounts of water as waste, which makes it essential for it to find out some feasible production techniques, which in turn helps the industry meet the regulatory standards.

Knit city of India "Tirupur"

Tirupur, a small town in the state of Tamil Nadu, started off as a market for raw cotton back in the day, has today become a strong base for the setting up of cotton ginning factories. In due course, the local economy of this South-Indian town gave way to hosiery cluster and is today known as the country’s biggest knitwear cluster accounting to a whopping 90% of the nation’s total knitwear exports.  Let us take a closer look at what is now known as the ‘Knit City of India’ and rightly so!

Importance of GST(Goods and Services Tax) For Textile Industry

The Goods and Services Tax or GST is a form of Value Added Tax which is predisposed to include all the indirect taxes and would be the same for every region of the country unlike the VAT. Simply put, the GST will allow the state government to get a share that was earlier entitled only to the centre in the form of Central Sales Tax.The Goods and Services Tax, if and when approved will benefit the textile industry in more than one ways, and hence it is only just to study the importance of GST in this context.

Evolution of Garment/Textile Industry

The evolution of the textile as well as the garment industry in India, if nothing, has been quite dramatic. In fact the Indian textile industry is hugely diverse much like the nation itself.  As strong as this industry is, it derives this innate vigour from its wide range of fibres or yarns, right from the natural ones like cotton, wool, jute and silk, to the synthetic ones of the likes of polyester, nylon, acrylic and viscose. While the sector was no less than thriving under the British Rule, it was only after independence that the Indian textile industry shot up like never before. Thanks to the 5-years plans, the sector saw a steep rise, of the magnitude of 22 million in production in 1982, just double of what it was in 1951. It further registered an increase and went up to 26 million, by the end of the year 1989.

Recent Challenges Faced By Indian Textile Mills & Drop in Yarn Export

The textile industry of India contributes a whopping 12% to the nation’s forex earnings! However, the economic slowdown in the global market has had its adverse effects on the Indian Textile Industry, in addition to the various other verticals. While the overall textile and garment exports of the country rose by almost 4% in the current financial year, but it has still fallen short of the $45 billion target, pertaining to the massive decline in China’s demand with respect to cotton and yarn.

At present, the spinning mills have up to 10% material in excess capacity thereby resulting in higher inventory overheads and lower liquidity. The higher tariffs that have been imposed on products of these mills in all the major international markets, has further aggravated the issue.

Importance of an Effective Supply Chain in Textile Industry

With the tag of world’s largest population holding country, it is more than just obvious for India’s textile industry to have a significant contribution in the nation’s GDP. With a stature that big this industry has also come to have a celebrated presence world-over. This being said, the textile industry of India, however, is not as organized as one would assume it to be. Though the presence of intensely structured entities in the market cannot be denied, but the fact of the matter is that the better part of this industry is still ruled by small-scale enterprises, which are either consumed in creating handicrafts or engaged in manufacturing of apparels. Needless to state, it is this nature of textile industry that somehow cripples the existence of an effective supply chain.

How can online presence boost your business in textile industry?

Times are rapidly changing and so is the business model for every business. And textile industry is no exception. One of the major verticals where this change has brought about a whole new model of success is the online world of business. However, this change is not just a fleeting one, but is here to stay, and there are more than one reason for the same. So in case you have been hesitating till today, take a quick look at how exactly having an online presence can boost your business in textile industry.

Helps you reach global clientele

This is by far the most promising aspect of registering online presence for almost any business, more so for any vertical related to the textile industry. For the simple reason that fabrics and standardized items like home textiles can be easily purchased through the online medium as there are almost negligible chances of variations in product quality. This plays a vital role in enabling cross-border businesses, thereby enabling you to reach a larger and a more potential client base, that too without much hassle.

Five Ways to Make Profits from Your Surplus Textile Stocklot

Running a business is about closing deals, completing order and delivering the materials in order to earn profits, though an inevitable part of business is also dealing with the excess inventory. This overstock may result from a number of heads such as closeouts, changes in packaging, cancellation of orders, liquidations, bankruptcies and other unforeseeable aspects. While excess inventory creates a burden on the business owner, it also comprises of cost of storage and runs the risk of decrease in the original value of the merchandise. Moreover, the risk of the stock lot becoming outdated is always there.

However, not all is as gloomy as it sounds. There are some outstanding yet simple ways of getting rid of the excess stock, especially surplus textile. Take a look.

An Order to Remember

It was mid-October,  A time for festivals in India.  A time to embrace new hopes for the coming year. And yes, for all the businessmen and traders, a time to earn business and make unparalleled profits. At least, that is what Mr. Rakesh Trivedi must have thought.  But, God had some other plans, and not so pleasing ones. Well, let’s hear it straight from the man!

“It was through a very good friend”, recalls Mr. Trivedi. He said, “It was on 11^th Oct, 2011, I can recall because well how can one forget such a day! My friend barged into my office with this huge smile on his face. He gleamed with excitement when he told me about his relative, Mr. Sahu who lived in the States. To complete one of his organisation’s orders, Mr. Sahu was required to acquire a whopping quantity of three 40’ HQ of Tapestry Christmas Cushion Covers. My friend had suggested Mr. Sahu that I can provide him with the material at a reasonable rate. Mr. Sahu agreed to negotiate & eventually place order.”  Adds Mr. Trivedi, “To be frank, I thought the idea was preposterous and I cannot strike such a deal, especially with no excess funds for backing. However, my friend was insistent, and ultimately we closed the deal! As excited as I was about the order, I knew it was something that would take up the better part of my capital and would leave me almost cashless. However, I moved forward towards completing the order.  It took me a lot of taxing days and sleepless nights before I could get the order ready.”

He continued, “It was 25^th of November, when the phone rang. It was my friend at the other end, but this time the perkiness in his voice was missing. He sounded grim. Turned out, the organisation was shut down, and the consignment was no longer required. I was dumbstruck. Though there was still time for Christmas, but for an order this huge, there was no possibility of finding a doting customer. I was right. There was no customer. Not in 2011. Not in the coming three years. My finances were in a bad shape. As guilty as my friend was feeling, one fine day he gathered some courage and came to me. He suggested a website called www.textilestock.in, where many other home textile suppliers like I had published there stock. He insisted that I visit the site and put up the details of my stock up there. Although reluctantly, I agreed. I got in touch with the team, and did as required. And there can be no words, whatsoever, to explain my surprise and joy, when my entire stock of homefurnishing textiles got sold out within a span of just 9 days! Yes, that’s true, I sold it to 2 different traders and that too at approximately my production price! Well God, or let’s say the universe, works in mysterious ways. That’s all I can say. I can never thank my stars, or for that matter www.textilestock.in enough!”

Outlook for Indian Textile Industry in 2015 – Business Shifting from China

For several years, India has enjoyed the position of being the second largest producer exporter of textiles in the world. According to reports, the total Indian textile industry, including domestic & exports, is expected to reach $223 billion by 2021, rising from $89 billions in 2011. Statistics reveal that the country has overtaken countries such as Italy, Germany, and Bangladesh, to emerge as the second largest textile exporter, the largest being China. The good news is that due to rising labor costs, China is gradually losing its competitive edge. There are also several other factors contributing to the downfall of China’s textile exports, such as, appreciating currency value, rising material & energy costs, and a high focus on the domestic market. The decline in China’s market share in textiles provides an opportunity for India to excel in this sector. Further, the abundant availability of raw materials, huge domestic market, improved economic conditions, and Government initiatives such as “Make In India” are some of the advantages that fuel the solid performance of the Indian textile industry for export.

What Does The 2015 Budget Mean For The Textile Industry

The first full term 2015 Financial Budget presented by the Modi Government for the financial year FY-16 is a really disappointing one, especially for the textiles sector. Many of the promises have not been kept and the lackluster budget didn’t allocate much funds to alleviate the woes of the textile industry.

Finance Minister Mr. Arun Jaitley has decided to boost infrastructure projects in this budget, which was a severe blow to the textile manufacturers since they expected some tax cuts in order to obtain a bias-free market. The saddest part is that there was no discernable mention of the Textile industry in the budget.