Future of Indian Textile Industry

Future of Indian Textile Industry

One of the oldest sector in India, textile sector also happens to be the largest in the country. However, in the decade gone by, the industry has been plagued with a plethora of issues ranging from government regulations to economic slowdown and many others. In fact, there even came a time where small players like Pakistan, Bangladesh and Sri Lanka, which any considerable strength in the sector raced ahead of India in many sectors. Nonetheless, Indian textile sector bounced back with full strength and even managed to achieve an exemplary GDP of over 6%. Moreover, it was only during the decade gone by, that the Indian textile and clothing industry was officially integrated with the World Trade Organisation.

Iran- A Huge Potential Market for Indian Textiles

In the recent past, the import duties with respect to textile fabrics and ready-made garments in Iran have been reduced drastically, as a measure to curb illicit imports. This has also helped the Iranian Government to clear its way towards becoming a part of the World Trade Organisation. On the other hand, India is on the lookout to tap Iran’s markets which seems to have a great potential for apparel & Home textile products.

Turning a Business Crisis into an Opportunity!

The very definition of business essentially comprises an overlooking risk factor. And at a place where risk is inevitably involved, crisis ought to follow, more often than not. However, the strength of an entrepreneur always lies in his ability to turn this crisis into an opportunity! Former CEO of Intel, Andy Grove, once pointed out, “Bad companies are destroyed by crisis. Good companies survive them. Great companies are improved by them.”

Mills Online - Selling Stocklot Wasn’t So Simpler Earlier

It has been quite some time now that technology has taken over in our lives. Connectivity whether it is through the internet or the mobile platform has taken a huge leap, and boundaries seem to wither with each passing day. 

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.

Globe to Present Wearable Advanced Sensor Platform at the Smart Fabrics Summit

The US Department of Commerce in collaboration with the Industrial Fabrics Association International has invited the well-known Globe Manufacturing Company to share their thoughts at what can be called as the first of its kind, Smart Fabrics Summit planned to be conducted in Washington DC. It is known that Penny Pritzker, the US Secretary of Commerce will take the onus of moderating the selected panel of business leaders.