Indian Textile Industry : SWOT Analysis
The Indian textile market is one associated with the leading sheet industries in the world. Though this used to come under unorganized industry few years back again, the scenario changed dramatically after the particular economic liberalization associated with the Indian economic system. Liberalisation gave the much-needed push for the textile industry, containing now successfully turn out to be one of the particular largest in the world. While per the last statistics available from the Annual Report 2009-10 of the Ministry of Textiles, “The Indian textile business contributes about fourteen per cent to be able to industrial production, four per cent in order to the country’s low domestic product (GDP) and 17 per cent to the country’s export revenue. ” Additionally, this provides direct work to over thirty five million people and is the second largest provider of job after agriculture.
The report further claims “The current domestic market of fabric in India is usually anticipated to increase upwards to US$ 60 billion by the summer season from the existing US$ 34. 6 billion. The talk about of exports can also be expected to raise from 4% in order to 7% within the summer season. ” Textile Equipment will also be an essential part of this kind of segment.
Strengths regarding the Indian Sheet Industry
India’s largest strength lies in it is big pool associated with cheap and accomplished workforce. However, aside from it there usually are nothing else important aspects which leads to its strength such as
Huge Domestic Market ingestion (due to it is own population).
Huge Export Potential (Indian products are inside great demand among the western importers)
The new era creative and threat taking entrepreneurs.
Using latest technology which usually produces high quality multi-fiber raw stuff.
Supportive government policies.
The Indian Fabric Industry has its fair share regarding weakness like:
Typically the increased global opposition due to WTO policies.
Use regarding outdated manufacturing technologies from the weak suppliers.
Inefficient offer chain management.
Additionally , this sector remains unorganized at numerous levels and demands plenty of government reforms for more improvisation.
The western countries are setting right up their manufacturing models in India which single handedly opens up an extensive array of possibilities for all the particular stakeholders within the textile industry.
Skid Steer Cement Mixer think that the glowing era of China textile and clothing exports is over as well as the production basic of global textiles is usually gradually shifting coming from China to Indian, Pakistan as well as other reduced cost destinations.