business plan
TABLE OF CONTENT
INTRODUCTION:
Until the economic liberalization of Indian economy, the India Textile Industry was predominantly unorganized industry. The opening up of Indian economy post 1990s led to a stupendous growth of this industry.
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.
Strengths of Indian Textile Industry are as follows -
Huge textile production capacity
Efficient multi-fiber raw material manufacturing capacity
Large pool of skilled and cheap work force
Entrepreneurial skills
Huge export potential
Large domestic market
Very low import content
Flexibility
Weaknesses of Indian Textile Industry are as follows -
Increased global competition in the post 2005 trade regime under WTO
Imports of cheap textiles from other Asian neighbors
Use of outdated manufacturing technology
Poor supply chain management
Huge unorganized and decentralized sector
High production cost with respect to other Asian competitors
RETAIL SCENERIO IN INDIA:
As the corporates – the Piramals, the Tatas, the Rahejas, ITC, S.Kumar’s, RPG Enterprises, and mega retailers- Crosswords, Shopper’s Stop, and Pantaloons race to revolutionize the retailing sector, retail as an industry in India is coming alive. Retail sales in India amounted to about Rs.7400 billion in 2002, expanded at an average annual rate of 7% during 1999-2002. With the upturn in economic growth during 2003, retail sales are also expected to expand at a higher pace of nearly 10%. Across the country,
INTRODUCTION:
Until the economic liberalization of Indian economy, the India Textile Industry was predominantly unorganized industry. The opening up of Indian economy post 1990s led to a stupendous growth of this industry.
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.
Strengths of Indian Textile Industry are as follows -
Huge textile production capacity
Efficient multi-fiber raw material manufacturing capacity
Large pool of skilled and cheap work force
Entrepreneurial skills
Huge export potential
Large domestic market
Very low import content
Flexibility
Weaknesses of Indian Textile Industry are as follows -
Increased global competition in the post 2005 trade regime under WTO
Imports of cheap textiles from other Asian neighbors
Use of outdated manufacturing technology
Poor supply chain management
Huge unorganized and decentralized sector
High production cost with respect to other Asian competitors
RETAIL SCENERIO IN INDIA:
As the corporates – the Piramals, the Tatas, the Rahejas, ITC, S.Kumar’s, RPG Enterprises, and mega retailers- Crosswords, Shopper’s Stop, and Pantaloons race to revolutionize the retailing sector, retail as an industry in India is coming alive. Retail sales in India amounted to about Rs.7400 billion in 2002, expanded at an average annual rate of 7% during 1999-2002. With the upturn in economic growth during 2003, retail sales are also expected to expand at a higher pace of nearly 10%. Across the country,