US clothing, hosiery and sock producers and textile mills, including carpet producers have been counted amongst the top ten dying industries in the country.
The sector shares space with others like appliance repair shops, video rental business, newspaper publishing, etc, says a report from IBISWorld.
The reasons for textile and apparel being amongst the top-ten dying sectors are not far to seek.
Many yarns, fabrics, clothing and socks production jobs have shifted to low-cost, mainly Asian countries like, China, India, Vietnam and Bangladesh.
Advancements in technology have also meant demise of those who rely on old ways of life. Many traditional industries struggle to keep up and ultimately lose out in this new wave.
Those that have been able to survive are those that produce high-value products, which the low-cost Asian countries are not able to manufacture, the report notes.
Fibre2fashion News Desk - India
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