Page 42 - Banking Finance July 2017

ARTICLE

control strategies, industry structure and associated pertain- fibres, yarns and other material. Textiles may be made from
ing to the Indian Textile Industry. Dr Navneet Gera intends natural products such as cotton, linen, wool and mohair or
to understand the significant role of textile industry, its share from synthetic materials such as polyester, nylon and rayon.
in total exports and future prospects of the Indian Textile
Industry. Tandon and Reddy has aimed on studying the Classifications
emerging trends in Indian Textile Industry with the chang-
Textiles are classified according to their component fibres
ing aim of the Indian Government.
into silk, wool, linen, cotton, synthetic fibres such as rayon,
nylon and polyesters and some inorganic fibres such as cloth
Objectives of the Study of gold, glass fibre and asbestos cloth. The key segments of
The objectives of the study are as follows - the textile industry are given below:
To analyze the contribution of textile industry

To understand the present scenario of the textile indus-
try

To identify the opportunities and challenges for the tex-
tile start ups

To identify the weaknesses and problems of the textile
start-ups and provide them with proper suggestions Yarn and Fibre Segment Woollen textiles
Silk textiles
To identify the role of textile startups in the economic
development of the country Jute textiles
Technical textiles
* includes cotton, jute, silk, wool and manmade fibres
Research Methodology
This study is based on secondary data. Data has been col- Indian Textile Industry - Current Scenario
lected from books, websites, journals, newspaper and maga-
The Indian textile industry has occupied an important place
zines. Data were collected to understand the role and de-
because of its immense contribution to the economy of the
velopment of the textile start ups to contribute to the eco-
country.
nomic development of India.
Start up - Concept

According to the government notification, an en-
tity will be identified as a start up -
Upto five years from the date of incorporation.
If its turnover does not exceed 25 crores in the last five
financial years.
It is working towards innovation, development, deploy-
ment and commercialisation of new products, pro-
Source: Ministry of Textiles, Make in India, Technopak,
cesses, or services driven by technology or intellectual TechSci Research, 2015-16
property.
The domestic textile and apparel industry in India is esti-
Textile industry - Conceptual Framework mated to reach USD141 billion by 2021 and USD100 billion

The word textile originally referred only to fabrics made by by 2017 from USD67 billion in 2014 due to Rising per capita
weaving yarn on a loom. Today the textile industry includes income, favourable demographics and a shift in preference
knitted goods, braids and other fabrics that are made from to branded products to boost demand.

42 | 2017 | JULY | BANKING FINANCE

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