Textile industry overview
Primarily concerned with the design and production of fibre, nylon filament yarn and clothing the textile industry deals in raw material, Ranging from a wide variety like jute, silk, cotton, this industry provides a reasonable value-added production of materials such as fabrics and wearables to customers and consumers. Overall contributing 14 per cent value to the manufacturing industry for value-added
For example, Textile industry has started dealing a lot in raw material such as nylon filament yarn, which
is most extensively used for the production of fabrics like sarees or embroidery also the upholstery is becoming the most preferred fibre over silk and cotton because of its amazing quality of tensile strength
Future of the textile industry
As far as the future of the textile industry is concerned an expected investment of $120 billion is foreseen in near future of 2024-25 creating a lot of opportunities for social and economic developments, as it is important in short-run incomes and jobs especially for rural areas it is a great way to receive foreign exchange providing the country with a chance for economic development in long run.
For instance, reaping the benefits of economic development Colombia’s textile industry once seemed to
grow rapidly at home and abroad. And besides being the mother country to the textile industry, Colombia has no textile industries setups and imports raw material from various other countries. And with over 100 years of experience, Colombia’s textile industry has a consolidated production chain.
Productivity factors influencing the textile industry
Productivity factors of the textile industry are basically the ratio of actual output and entire input.
Following are the major factors that influence the textile industry. Starting from the management working style to the size of technology and plant capacity, human factors and working methods also play a very important role in the overall production. Also followed with these, energy and selection of quality material is also important.