CHALLENGES FACED BY TEXTILE INDUSTRY IN INDIA:
The challenges or problems faced by different textile industries in India are:
1) Cotton industry:
a) Cotton production in India is uncertain. It fluctuates depending on weather conditions. This makes the raw material supply irregular.
b) Cotton produced in India is not of fine quality. For fine fabrics, we need to import cotton from other countries.
c) Textile industries in our country are suffering from inadequate power supply.
d) Indian cotton textile industries has faced increased competition in world markets, in particular from countries such as Japan, Korea, United States of America and Taiwan, both in cost and quality. This is largely due to low productivity and high costs. Cotton …show more content…
Common customers are buying cheap imitations from China.
g) Today people have become market-oriented; they have forgotten the Indian culture, tradition and skills. Today business people are thinking of survival than revival. The government should realize that hand-loom and crafts industry offers good number of jobs and sustainable livelihoods.
h) Lack of appropriate incentives to boost confidence of hand-loom weavers.
6) Jute Industry:
a) Indian Jute Industry facing tough competition from synthetic packaging materials from the developed countries of Europe and North America.
b) Jute industries in India are facing a very tough competition from Bangladesh, the Philippines, Japan and Brazil.
c) Due to synthetic substitutes in domestic and international markets, the demand for jute products is reducing in global market.
d) Old and outdated machines have led to decline in production of jute products.
e) After the independence, Jute producing areas went in Bangladesh which has resulted in a severe shortage of raw jute in India.
f) Although successful efforts to increase the supply of raw jute are made, it is still …show more content…
The govt should increase the investment limit in plant and machinery of SME units from the existing Rs.10 crores to Rs.25 crores.
9. Reduce customs duty from 7.5% to 5% on certain textile intermediates and inputs for technical textiles.
10. Price deregulation particularly in cotton textile industry.
11. Creation of Market Intelligence Database Ban on Imports of Secondhand (Worn) Clothing and more
12. The export credit may be made available for all textile products at 7% interest.
13. Activate special economic zones and facility centers for garment manufacturers for quality testing.
CONCLUSION:
Considering the problems of different segments of textile industry, the ministry of textiles has taken several initiatives. These initiatives saved industry from a deep crisis, and taken it to the path of growth, and at present there are indications that speedy recovery of the industry in next five years. In spite of the escalation in raw material prices, most segments of the textile chain have already started growing, which can be observed from the recent export figures. It is hoped that the textile industry would regain its past glory in the coming
The challenges or problems faced by different textile industries in India are:
1) Cotton industry:
a) Cotton production in India is uncertain. It fluctuates depending on weather conditions. This makes the raw material supply irregular.
b) Cotton produced in India is not of fine quality. For fine fabrics, we need to import cotton from other countries.
c) Textile industries in our country are suffering from inadequate power supply.
d) Indian cotton textile industries has faced increased competition in world markets, in particular from countries such as Japan, Korea, United States of America and Taiwan, both in cost and quality. This is largely due to low productivity and high costs. Cotton …show more content…
Common customers are buying cheap imitations from China.
g) Today people have become market-oriented; they have forgotten the Indian culture, tradition and skills. Today business people are thinking of survival than revival. The government should realize that hand-loom and crafts industry offers good number of jobs and sustainable livelihoods.
h) Lack of appropriate incentives to boost confidence of hand-loom weavers.
6) Jute Industry:
a) Indian Jute Industry facing tough competition from synthetic packaging materials from the developed countries of Europe and North America.
b) Jute industries in India are facing a very tough competition from Bangladesh, the Philippines, Japan and Brazil.
c) Due to synthetic substitutes in domestic and international markets, the demand for jute products is reducing in global market.
d) Old and outdated machines have led to decline in production of jute products.
e) After the independence, Jute producing areas went in Bangladesh which has resulted in a severe shortage of raw jute in India.
f) Although successful efforts to increase the supply of raw jute are made, it is still …show more content…
The govt should increase the investment limit in plant and machinery of SME units from the existing Rs.10 crores to Rs.25 crores.
9. Reduce customs duty from 7.5% to 5% on certain textile intermediates and inputs for technical textiles.
10. Price deregulation particularly in cotton textile industry.
11. Creation of Market Intelligence Database Ban on Imports of Secondhand (Worn) Clothing and more
12. The export credit may be made available for all textile products at 7% interest.
13. Activate special economic zones and facility centers for garment manufacturers for quality testing.
CONCLUSION:
Considering the problems of different segments of textile industry, the ministry of textiles has taken several initiatives. These initiatives saved industry from a deep crisis, and taken it to the path of growth, and at present there are indications that speedy recovery of the industry in next five years. In spite of the escalation in raw material prices, most segments of the textile chain have already started growing, which can be observed from the recent export figures. It is hoped that the textile industry would regain its past glory in the coming