A Study on Home Textile Export Performance with Special Reference to Karur Town
CHAPTER I
INTRODUCTION AND DESIGN OF THE STUDY
1.1 INTRODUCTION
The Textile industry in India is one of the largest segments of the Indian economy, accounting for over one fifth of the country's industrial production. It provides employment to about 15 million people. The Home Furnishings industry in India falls under the purview of the textile, which has witnessed unprecedented growth over the last few years. With the increased exposure to the international scene in the recent past, the Indian market, and the Indian consumer has evolved into a design and trend conscious citizen.
The urban home furnishings retail market is estimated to be Rs. 9,300 crore and is expected to reach Rs 20,000 crore by the year 2012. The bed and bath furnishing products make up two thirds of the market in the other country. The recent spurt in growth of the Indian economy has opened up doors of opportunity for international brands to establish themselves in the other country.
The Indian Furnishings market can be divided into the organized and the unorganized sector, which means that the divide lies between the branded and unbranded products. Among these, there is a niche market present in India for good quality household furnishing. The steady increase in consumer purchasing power and low penetration levels in urban and rural areas have attracted the International brands to the country. Italian brands, which are known throughout the world for their quality in style and elegance, have found the Indian market especially appealing. Additionally, liberal foreign policy has encouraged foreign investment and thus resulted in a competition between the multinationals and the domestic market.
1.2 STATEMENT OF THE PROBLEM The textile industry in India is one of the largest and most important industrial segments of the Indian economy accounting for over one fifth of the country’s industrial production. It provides employment to 15 million people who have helped produce one of the largest
INTRODUCTION AND DESIGN OF THE STUDY
1.1 INTRODUCTION
The Textile industry in India is one of the largest segments of the Indian economy, accounting for over one fifth of the country's industrial production. It provides employment to about 15 million people. The Home Furnishings industry in India falls under the purview of the textile, which has witnessed unprecedented growth over the last few years. With the increased exposure to the international scene in the recent past, the Indian market, and the Indian consumer has evolved into a design and trend conscious citizen.
The urban home furnishings retail market is estimated to be Rs. 9,300 crore and is expected to reach Rs 20,000 crore by the year 2012. The bed and bath furnishing products make up two thirds of the market in the other country. The recent spurt in growth of the Indian economy has opened up doors of opportunity for international brands to establish themselves in the other country.
The Indian Furnishings market can be divided into the organized and the unorganized sector, which means that the divide lies between the branded and unbranded products. Among these, there is a niche market present in India for good quality household furnishing. The steady increase in consumer purchasing power and low penetration levels in urban and rural areas have attracted the International brands to the country. Italian brands, which are known throughout the world for their quality in style and elegance, have found the Indian market especially appealing. Additionally, liberal foreign policy has encouraged foreign investment and thus resulted in a competition between the multinationals and the domestic market.
1.2 STATEMENT OF THE PROBLEM The textile industry in India is one of the largest and most important industrial segments of the Indian economy accounting for over one fifth of the country’s industrial production. It provides employment to 15 million people who have helped produce one of the largest
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