India’s textile sector requires reform and strengthening to compete with international players who have multiple pleas to grab market share that actually belongs to local brands.
The emergence of the textile industry witnessed a steady. The hurricane of globalization has helped businesses to lift trade blockades, and fast-developing low-cost countries have changed the scenario of industry. The trend of shifting production facilities to low-cost countries is increasing every day,
and previous major players like the US, UK, Germany, Italy and France are seeing the decline of their textile industries. Cutthroat competition and demand have forced major players in developed countries such as the US and Geotextile Bag Europe to set up manufacturing facilities in developing countries that have cheap labor costs and good skills.
The range of outsourced products included mainly non-dispensable goods with low added value and lower margins. However, it was a complex process for these nations to produce fashion products with high added value in terms of creative ideas, design and know-how, precisely because of the complex textile chain.
The rapid growth of the local economic scenario has increased the labor cost, leading to competitiveness with other developing and low-cost countries. The first result of higher costs was the relocation of production facilities to cheaper countries.
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