Industrial structure and financial management of jute textile industry in india a roadmap to future

Abstract

In this present situation of incredibly innovative fashion, textile industry forms a significant newlinerole in Indian economy in terms of generating employment and foreign exchange. The newlineimportance of textile industry in India is due to contribution in the industrial production, newlineemployment and also earns foreign exchange by way of exports. Currently, the Indian Textile newlineMarket size is exponentially growing at a rapid scale. Currently, the textile industry contributes newline14 per cent to industrial production in India and adds 4 per cent to the GDP. Therefore, the newlineIndian economy has enhanced opportunities and challenges for the textile business startups in newlineIndia where opportunities are high for manmade fibre and filament manufacturing as currently newlinefibre consumption is cotton dominated contrary to the global trends, spinning sector being newlinehighly advanced and competent globally in terms of price, quality and standards. India is in newlineadvantageous state in terms of robust demand for non-clothing textile, availability of raw newlinematerials like cotton, wool, silk and jute, 100% FDI to boost export and free trade and newlineincreasing investments. newlineJute industry also known as the Golden Fibre Industry is one of the most important traditional newlineand oldest industries in India which plays an important role in the socio-economic aspect of newlineIndia. The jute industry as a while indicates both raw jute as well as jute goods. It includes the newlineentire value chain i.e. starting right from harvesting of jute to processing of raw jute for newlinepreparation of different jute products like gunny bags, jute handicrafts and other diversified newlinejute products. Due to a rise in awareness towards the environmental impact of clothing and newlinetextile production, people, now-a-days are preferring eco-friendly and sustainable textiles and newlinethe demand has increased due to their various benefits. Sustainable textiles are textiles (or newlinefabrics) that are grown and created in an environmentally friendly way, using minimal newlinechemicals as there will be less health problems that are associated with ch