Analysis of Textile Industry

Topics: Textile industry, Textile, Textile manufacturing Pages: 40 (15425 words) Published: June 7, 2010

The textile industry is mainly a labor intensive industry as it provides livelihood to the huge population, mainly consist of unskilled workers, thus plays a pivotal role in the development of any economy. As this particular industry also comes under the basic necessities of human beings, it impacts a lot to the society as a whole. There has been increase in demand of textile products in last few decades globally, mainly due to rapidly changing social and economic structure of the countries worldwide. In past few years, especially after the removal the trade related tariffs and non tariff barriers in 2005, Asian countries such as India, china, hongkong and Japan have emerged as major players in this particular industry, mainly due to their ch eap, trained and easily accessible manpower and low cost of the raw materials. In this particular study of textile industry, we have focused mainly on Indian scenario. Textile industry in India is a major contributor in the overall development of the economy, it contributes 4% to the GDP and 14% to the industrial production. India stands apart from the rest of the world due to its favorable social, political and economical condition for this particular industry. Moreover India is one of the biggest producer of the cotton in the world and it have a huge pool of young, skilled and cheaper workforce which have enabled India to become one of the largest exporter of textiles products in the world. Since the economic reform of the Indian economy, textile industry has grown with a much faster rate. As this is export oriented sector, it also helps India to maintain positive balance of payment. Government of India have taken many initiatives to promote this particular industry such as- Technology Upgradation Fund Scheme (TUFS), National Textile Policy 2000 etc, moreover the removal of world trade barriers have also given Indian exporter a much needed booster. The demand of textile products have also risen domestically as the purchasing power of people have increased over the past few years and even introduction of organised retailing in the Indian market have increased the demand. The world economy is also recovering fastly from the recession, there is strong indication that the demand of textiles will increase worldwide and this gives India an opportunity to utilize its potential at full extent. In the analysis of this particular industry we have considered the present and probable future global scenario and their impact on the Indian textile industry. We have taken top and bottom 3 companies of Indian textile industry to analyse the trend. We also have considered in our study the impact of current budget to predict impact of this on the future if the textile industry....

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