TEXTILE INDUSTRY IN INDIA
In India, textile industry is more of labor intensive industry. It is because it provides livelihood to unskilled laborers where they play an important role in the development of the economy. Textile industry also has an impact to the society as a whole as it comes under the basic necessities of human beings. Due to changing social and economic factors, there has been an increase in demand in this industry.
After removal of trade tariffs and non tariff barriers in 2015, countries like Japan, China, Hong Kong, India have emerged successfully in textile industry. In Indian textile industry, 14% is contributed to industrial production, 16.6% to export earnings and 4% is contributed to the Indian gross domestic product
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It also helps to determine the decline or growth of a particular market.
POLITICAL ASPECT:
For an industry to gain trust and goodwill, it is necessary for them to consider legal and political aspect as a part of the strategies. The industry should follow the policies and set rules and regulations of the government so that the industry is considered and recognized as an authorized business company. If rules and polices are being followed, it shows that the industry values the policies set by the government as per the business operations. In this aspect, it involves the following:
Tax policy
Employment laws
Environmental
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CONCLUSION:
From political aspect, government should initiate to apply sustainable policies for the beneficial of the industry. Some of the initiatives that the government has taken are releasing of a subsidy of $533.87 millions for textile industry under the technology Up-gradation Fund Scheme (TUFs). Government has also extended 10% capital subsidy and 5% interest subsidy on installation of machineries under TUFs.
When there is an increased of inflation rate, it makes the cost of production very high which will proportionately decrease the profits margin of the industry. Changing of trends and lifestyle of people will also affect the demand of the products. Technological development has led to an increase of technological advancements in textile industry.
Textile industry is facing competition from foreign industry including our neighboring countries like Sri Lanka, Pakistan and Bangladesh where they took advantage of unilateral tariff preference schemes.
Research and studies are conducted by the government to improve textile export and competitiveness of the Indian textile industry. It was also estimated the domestic household market size of textiles.
FIVE FORCES FRAMEWORK PROPOSED BY MICHEAL
The legality involved in operating a business is very momentous to both the owner and operators the company. Ones may not have knowledge of all the details; however, he or she should be acquainted with UCC regulations. When owners and operators understand UCC regulations, he or she can operate the business with more efficiency legally.
Industrialization, as it did in other countries, caused the formation of factories and machines that sped up how much cotton products are produced. In document 6, Radhakamal Mukerjee, an Indian economist, says “there has been a rapid decline of the hand-woven cloth industry…on account of the competition of machine manufactures…though many wear
The O.P. Henley Textile Mill had a significant divide between employees and management and the working conditions were poor. There would have been many opportunities to make improvements such as improved working conditions, training and promotion programs, communication, and the building of trust. Significant wage increases may not have been necessary as long as they were competitive for the local market. In fact, a well-structured profit or gain-sharing program, benefitting both parties, may have been sufficient.
One of the first and most prominent of these changes was in the textile industry. The textile industry was the staple of the industrial revolution. Before the industrial revolution, the textile, or more specifically cotton, industry was performed at home. It happened in a few steps. First, cotton was farmed and harvested. Then, the in home process began. Workers called “spinners” would take the cotton and form it into strands. These strands were the ...
In order to get our information on the innovation and impact of the textile mills, as a group we gathered information from various places and did extensive research on our topic. We found a great quantity of information by visiting the Upland Public Library, surfing numerous websites, collecting many primary interviews, and interviewing people on their knowledge of the impacts that the textile mills and the textile industry had on lives then and today.
Due to the new uprising of cotton and woolen textile industries; not only did it bring forth new ideas and inventions, but it also caused riots among laborers because they couldn't find jobs (because people were replaced by machines). It started off as a manufacture done at home. They had to go through different stages like sorting and cleaning, in order to make a product. These jobs were mainly done by women and children. Raw materials for these industries were imported from countries like China, West Indies and Africa. But the production was not well-organized because people were scattered all throughout the city, and transportation wasn’t at its best position. However, textile industry began to experience a revolution. John Kay came up with...
Furthermore, cotton is a huge traded agricultural product. Approximately 170 nations were engaged in the export or import of cotton. By the export of textiles, cotton increases countries economic growth. Producing cotton requires a body of labors when there is a demand. In addition technology innovations increased productivity which lowered cotton prices and increased demand for cotton. Moreover, the United states is the largest cotton exporter, thanks to the economic system which provides incentives to the United States labor. Therefore, the economic system is the most important factor in increasing cotton production. In addition, the four factors that helped the cotton industry in the United States to achieve economic success are labor, technology, Lubbock city, and the economic system.
First of all, the Industrial Revolution has tremendously improved production and industrial growth. Before the Industrial Revolution, people would make textiles by hand in their own homes. Without any technology or machines it was very time consuming to spin thread to make cloth. An new invention was created called the water frame that created dozens of cotton threads in at one time (Stuckey 339). Researchers from the Mississippi Historical Society say in the 1800 the American cotton production was 156,000 bales and by 1860 it was more than 4,000,000 bales ("Cotton in a Global Economy: Mississippi (1800-1860)”).
the case in the textile industry, having before created most of the textiles in smaller quantities in the home
Analysis of sports clothing industry, including its main features, key market drivers and competition within industry.
Globalization and industrialization contribute to the existence of sweatshops, which are where garments are made cheaply, because they are moving production and consumption of those cheap goods. Industrialization has enabled for global distribution, to exchange those goods around the world. They can also set apart the circumstances of consumption and production, which Western countries as mass consumers, are protected from of producers in less developed countries. These factories are usually located in less developed countries and face worker exploitation and changes in social structures. Technological innovation allows for machines to take the place of workers and do all the dirty work instead of workers doing hours of hard work by hand.
The strengths of the book come from its’ accessibility. The book is easy to follow and provides readers with a great deal of information about the production of mass-manufactured clothing. As well as brings awareness to its’ many issues which we inadvertently take part in when we purchase such products. The book is well written and thoroughly researched but does have its’ share of weaknesses.
While the price of cotton textiles decreased by 90%, the output had grown to cover the demand at affordable prices. Now, cotton will be gotten from Brazil, Egypt, southern United Sates and all this meant a...
Inflation is one of the most important economic issues in the world. It can be defined as the price of goods and services rising over monthly or yearly. Inflation leads to a decline in the value of money, it means that we cannot buy something at a price that same as before. This situation will increase our cost of living.