Textile & apparel sector to grow by 9% - Technopak

26 Oct '09

6 min read

•There is a huge opportunity for Indian textile and apparel manufacturers to look towards catering to the domestic value market. For manufacturers this means more emphasis on fashion at low prices. Hence firms need to take designing more seriously along with improving operational efficiencies. Companies also need to establish strong supply relationships with these upcoming “value retailers” to become first partners of choice for their fast fashion requirements.

Strategies to Develop Competitive and Sustainable Businesses-
•With the growing domestic market and growing presence of international retailers suppliers need to align themselves as per requirements of the retailers. Furthermore, with growing specialization at the retail level, suppliers should also look at developing niche / specialized product competencies and offer customized solutions for respective retailers / brands based on their specific requirements.
•With increasing global competition and evolving consumerism it is slowly becoming a must for textile manufacturers to be innovative. Activities like R&D and designing should be treated as key success factors and a pre-requisite rather than an afterthought.
•Companies need to adopt best management practices, like lean manufacturing, from global players.
•The industry needs fresh and innovative thoughts to improve its existing work practices and drive efficiencies in manufacturing and supply chain. The best way to do this is by reaching out to the young managerial talent and give them the right 'incentives' to join the T&A industry. There are 103 textile institutes in India along with 118 National Institutes of Fashion Technology, which can be tapped for this purpose.

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