Textile industry in new India: challenges and opportunities Online publication date: Mon, 23-Nov-2020
by Yerragola Prakash; B. Charwak; P. Vijaya Kumar
International Journal of Indian Culture and Business Management (IJICBM), Vol. 21, No. 4, 2020
Abstract: Textile industry contributes 2% of Indian economy as the second largest source of employment. It has 15% of Indian export earnings and investments are vital for its growth. Upgradation through modernising the machinery to ensure overall efficiency, innovative processing and working capital management are some of the important exponents to enhance the status of industry. Manpower availability and compliance of labour laws are very crucial to meet international standards. Obviously global standards face a variety of challenges across the frontiers to assume leadership in the trade which necessitates domestic productivity. 'Make in India', 'Startup India' and 'ease of doing business' can boost foreign direct investments in India. 'Ease of doing business' will facilitate capacity building and support the reforms in labour legislations, improvement in logistic performance etc. These factors will strengthen the industrial performance by availing opportunities to achieve the status of a benchmark to capture international market.
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