Page 41 - Banking Finance July 2017

ARTICLE

A Study on

Rising of the

Textile

Startups in

India

Background tonnes of fibre production in 2015-16. India accounts for 18%
of world's spindles and 9% of world's rotor.
In today's world of incredibly innovative fashion, textile in-
dustry forms a significant role in Indian economy in terms Therefore, the Indian economy has enhanced opportunities
of generating employment and foreign exchange. The im-
and challenges for the textile business startups in India
portance of textile industry in India is due to contribution in
where opportunities are high for manmade fibre and fila-
the industrial production, employment and also earns for-
ment manufacturing as currently fibre consumption is cot-
eign exchange by way of exports.
ton dominated contrary to the global trends, spinning sec-
tor being highly advanced and competent globally in terms
Textile industries have captured the whole world in a unique
of price, quality and standards.
way as it offers a great variety of fabric which is to be used
on a daily basis, garments being the prominent one. India is Survey of the Literature
now the second largest textile fibre producer and has manu-
Dhanabhakyam and Shanthi has highlighted the structure,
facturing capacity in the world and the largest cotton and
growth and size of the Indian textile industry, role of textile
jute producer in the world. It has produced nine million
industry in economy, key advantages of the industry, textile
About the author industry export and global scenario and strength, weakness,
opportunities and threats of the Indian textile industry and
Ms. Barnasree Chatterjee how Textile Industry is providing one of the most basic needs
Assistant Professor of people and the holds importance maintaining sustained
Dept. of BBA growth for improving quality of life.
The Bhawanipur Education Society College
Kolkata
Chavan has discussed the environmental issues, pollution

BANKING FINANCE | JULY | 2017 | 41

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