Textile is a crucial element of the Indian Economy. It is a significant contributor to the growth of the nation. It is a huge sector that has created a good share of employment opportunities for eligible professionals. Textile export from India is a crucial factor that helps the government in maintaining the import-export balance. However, even the best textile exporters have to face certain challenges while operating in the industry. This blog highlights these challenges.
The cost of the raw material has always been volatile in this industry. It is impacted by several factors. The industry faces rapid price changes. These changes affect the production costs, profit margins and overall sustainability.
The contemporary business environment is governed by strict environmental regulations and compliance standards. The pressure to abide by them has increased over the years for the largest textile manufacturers in India. It is a known fact that the shift towards eco-friendly operations is necessary. However, from a manufacturer’s point of vie,w it is a substantial investment and adjustments in the production process.
Technology keeps upgrading now and then. In this situation, there will be a persistent challenge to address the technology divide among the manufacturers. There is a good share of small and medium-sized enterprises in the sector. These enterprises struggle to adopt advanced machinery and automation. This is major due to financial and sometimes even physical constraints. This is a crucial factor that also affects the production efficiency and product quality.
This industry is majorly dependent on skilled labour. It becomes a huge challenge to ensure the availability of skilled labour in the production unit at all times. This is because of the growing competition and an ever-growing shortage. It becomes very important for the best textile exporters to attract and retain their employees.
The contemporary market demands a manufacturer to be in sync with the rapidly changing fashion trends and consumer preferences. They have to constantly anticipate and respond to these shifts. This can be done through agility and predictive insights.
These are a few challenges faced by the textile manufacturers that operate in India. Those manufacturers who overcome these challenges can become one of the largest textile manufacturers in India.