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Research & Technology key to survival

05
Apr '08
2008 is proving to be a nemesis for the textile and garment industry of China. After registering record growth rates in 2007, most of the production and export textile indices are showing negative growth rates.

This concern has been echoed by the China Cotton Textile Association (CCTA). A recent survey conducted by (CCTA) has thrown up some surprising facts. Nearly 49.2% of all textile enterprises have mentioned that they would look for other avenues of business.

Investment is expected to drop by nearly 15.5% in this year. The companies are facing a lot of pressure on account of appreciation in the RMB, rising costs in labour & looming picture of recession in America.

To avoid falling in to pitfalls, experts have suggested doing more research & gaining technological competence. CCTA has called upon its member companies to technologically upgrade themselves and concentrate on brand building, towards meeting the pressures head on.


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