Published on December 23, 2013
Current year shows mixed trend for textile industry. Reason for such mix trend is said as rupee depreciation helped make country’s export competitive, on other side hike in input costs and high finance costs lower the margin. With rupee depreciation industry has noted good growth for the current year. Many big players has noted good hike in there net profit due to export. This year noted hike in textile export as well which was negative from last two years.
India’s textile export has noted the growth of approx 15% this year as against 5 % fall in previous year. It is also noted that companies who are in manufacturing of textile had seen tuff time also due to hike in prices of raw materials and related chemicals as well.
According to industry representatives, Indian Textile manufacturer need to adopt new and advanced software for improving productivity, efficiency and transparency in supply chain. Indian textile industry is growing at good rate and is very confident that it will cross the export of US$ 40 Billion in the current fiscal. Present scenario shows that textile industry is facing some problems like modernization, lack of skilled manpower and inadequate infrastructure. According to a report of the working group of textile and jute industry for 12th Five year plan, during the period of 2012-2018 there would be need of 11million skilled manpower.
