Market will be driven to a significant extent by increasing disposable income among consumers, rising sales of clothing and apparel, and increasing penetration of organised retailing in various developed and developing economies.
Browsing: Automation
Indian textile industry needs to take a bigger pie from the global market. Industry 4.0 & sustainability are a prerequisite & so new technology advancements are the need of the hour, says Avinash Mayekar.
Textile industry formed a sizeable chunk of the Indian economy, long before the advent of the Europeans in India. The industry will play a crucial role in paving the way for India to become Atmanirbhar, says Vinod Kumar Gupta.
While advanced technology, digital systems and automated processes offer benefits in productivity and efficiency of the factory, they are also effective in the sustainability initiatives. Going forward, the faster manufacturers adopt to technology and digitalization, the better they will be able to perform and align with the global trends, says B Prakash.
Sustainability, like Corporate Social Responsibility, has evolved into a business model that no sector, including retail can afford to disregard. Retail sector is turning more sustainable as a result of changing customer habits, says Sanjay Vakharia.
The Government of India’s approval for the Rs 10,683 crore Production Linked Incentive (PLI) scheme is expected to provide a shot in the arm for manmade fibre (MMF) and technical textiles sectors. Now the onus is on the industry to rise to the occasion, says Rakesh Rao.
The two mega trends of climate change and digitalization – collectively termed the ‘Third Wave’ – will have a profound impact on the textile value chain. Navdeep Singh Sodhi in this article offers a policy perspective to foster new business models.