| Textile Industries |
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India Textile Industry is one of the largest textile industries in the world. Today, Indian economy is largely dependent on textile manufacturing and exports. India earns around 27% of the foreign exchange from exports of textiles. Further, India Textile Industry contributes about 14% of the total industrial production of India.
Furthermore, its contribution to the gross domestic product of India is around 3% and the numbers are steadily increasing. India Textile Industry involves around 35 million workers directly and it accounts for 21% of the total employment generated in the economy.
Strengths of Indian Textile Industry are as follows - |
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Huge textile production capacity |
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Efficient multi-fiber raw material manufacturing capacity |
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Large pool of skilled and cheap work force |
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Entrepreneurial skills |
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Huge export potential |
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Large domestic market |
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Very low import content |
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Flexible textile manufacturing systems |
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Weaknesses of Indian Textile Industry are as follows -
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Imports of cheap textiles from other Asian neighbours |
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Use of outdated manufacturing technology |
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Poor supply chain management |
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Huge unorganized and decentralized sector |
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High production cost with respect to other Asian competitors |
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Unorganized decentralized textile sector which accounts for 76% of textile production is the target market for the ensuing entrepreneurs of the IT sector. There is a very good scope for new development and introduction of new concepts to enhance the quality of working and to arm ourselves against the competition of other Asian countries.
Any new venture which will ultimately bring down the cost of production to face the competition will be a welcomed by the industry at large. This will give a new impetus to the organisation to keeps itself on par with the local and foreign markets. Due to huge volumes and higher quantum of transaction the risk involved is equally very high. Hence even the slightest lacuna in decision making will decide the future existence of the organisation itself. Information availability is the major parameter for efficient decision making within the given point of time.
The requirement by this industry is not simple as it can be construed. Mere peripheral integration of IT will not suffice. We need to integrate each every hardware of this manufacturing unit. Capturing of data is going to be very voluminous and complex. Hence online and automatic data capture will be done through system integration. Strong system integration should happen to cull out all required data and to escalate the conspicuous data at the specific time.
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