Examine the major challenges hindering the Indian textile industry from achieving its full potential in the global value chain.
Introduction
Indian textile industry is the 2nd largest employment generator sector in India. It is a capital-intensive industry with integration in global supply chain.
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Main Body
Major challenges of Indian textile industry: Lack of technological upgradation. Eg: Indian textiles sector skills gaps in herealone. Informatization of the sector. Eg: More than 70% of industries are unframed in smaller. Majority are MSMEs unable to scale up. Eg: Lack of capital and membership for integration in export sector. Inverted duty structure of government. Eg: Slab immovable cost for textile sector. SME competition from via other developing countries. Eg: Bangladesh has on average 100 machines as compared to India's 70. Bangladesh and Vietnam get benefit under Atom for Europe market support. Measures taken to tackle challenges: Institutional support. Harvesting of textile as a dedicated ministry. Supporting in export promotion. Eg: PM - MITRA scheme. Technological upgradation. PLI scheme for synthetic textiles. Integration in global supply chain. Eg: Bilateral treaties with UK, UAE. Negotiations on global platforms. Eg: WTO against unfair trade practices of developed countries.
Conclusion
Indian textile sector is important both for economy as well as employment.
12 words
Apurva Verma
Land Reforms, Liberalization, Infrastructure & Investment
Manufacturing and Industrial Sector
Textile Industry
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Total words
1
Paragraphs
analytical
Tone