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Get these wrinkles out of the South Asian textile story
South Asia became a major player in the global textiles and clothing market with the onset of the third wave of global production. Supportive industrial policy was an instrumental factor in the 1990s, with zero duty on raw material and capital machinery, as access to global markets led to the industry’s boom. But there are some problems which needs attention in order to attain full potential in this sector.
Challenges:
- Job Creation-With a 7% unemployment rate, India faces the challenge of job creation in the wake of increased automation.
- Problem of transition-While a transition may be easier for large factories, medium and small-scale entities may suffer.
- Technological Adoption-In order to extract maximum, technological intervention is needed which may cost a lot and may also lead to unemployment of various unskilled labourers.
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