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Importance of textile industry in Pakistan
Importance of textile industry in Pakistan
Importance of textile industry in Pakistan
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Ch#3
Industrial analysis:
Pakistan is the 8th major exporter in Asia of textile products. This zone contributes 9.5% to the GDP and to about 15 million people gets employment. Pakistan is the 4th biggest producer of cotton, behind china and India has the third biggest spinning capacity in Asia and it contributes 5% of it to the international spinning capability. Cotton is the essential Cash crop of Pakistan. Textile products are one of the basic human requirements after foods.
For Pakistan which was one of the top cotton producers in the world, the growth of a textile Industry utilizing cotton rich resources has been a example towards industrialization. Textile products producing units are following:
• 1,221 ginning units
• 442 spinning units
• 124 large spinning units
• 425 small units.
The textile industry total export is approximately 10.2 billion US dollars. The textile industry contributes something like 9.5 % of the country’s GDP and foundation of Pakistan’s exporters comprising 52% of total exports and also represents the principle employment generating opportunity in the planned and big scale industrial segment.
In 2008-09 economic survey of Pakistan textile industry contributes more than 60% total exports in a country, which amounts is about 5.2 billion US dollars. According to the Economic Survey of Pakistan in 2012, according by the finance ministry, the textile industry itself constituted about 4% of the total size of the economy.
All Pakistan Textile Mills Association (APTMA) determines the rules and regulations in the Pakistan textile industry.APTMA is the premier national trade association of the textile spinning, weaving and composite mills.APTMA represents 391 textile mills out of which 309 are spinning, 4...
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Pakistan’s textile industry is facing one of the toughest periods in decades. The global recession which has hit very badly the global textile is not the only reason for decline. Serious internal problem like the hike in electricity tariff, the enlarge in interest rate, energy crisis, deflation of Pakistani rupee, increasing cost of inputs, political insecurity, removal of financial support & internal quarrel, high cost of production are the main reason of decline.
Works Cited http://www.fibre2fashion.com/news/textile-news/pakistan/newsdetails.aspx?news_id=161412 http://tribune.com.pk/story/522292/statistics-on-textile-industry-in-pakistan/ www.scribd.com/doc/24975694 http://www.paksearch.com/TOC_TextileComposite.html
http://economicpakistan.wordpress.com/2008/02/06/textile-industry/
http://www.rcci.org.pk/wp-content/uploads/2012/12/gtopti.pdf
Viewing it through the lens of economic progress, the garment industry notably contributes to Bangladesh’s GDP. It has become the largest foreign exchange earning branch mostly exporting clothing to the United States of America and Europe. Starting from the late seventies, Bangladesh’s garment
the case in the textile industry, having before created most of the textiles in smaller quantities in the home
Now a day this theory is more important because companies are focusing on cheap production and this is what happen in Bangladesh they have been the lowest textile manufacturer even from china and captured around 60% production of world most renowned brands like H&M and wall mart. The key thing in this change is low wage
Textile production and consumption is an increasingly global affair as production continues to shift to developing countries. Developing countries have seen an explosion in the growth of their textile exports, and for many countries textiles are a significant portion of their total exports. In response to increasing competition from low-value imports from developing countries, industry leaders in developed countries have made significant capital investments in order to increase productivity and move into advanced market sectors.
The future for the Indian textile industry looks promising, buoyed by both strong domestic consumption as well as export demand. With consumerism and disposable income on the rise, the retail sector has experienced a rapid growth in the past decade with the entry of several international players like Marks & Spencer, Guess and Next into the Indian market. The organised apparel segment is expected to grow at a compound annual growth rate (CAGR) of more than 13 per cent over a 10-year period.
The textile manufacturing industry is one of the biggest industries in the world that is currently worth nearly three thousand trillion dollars. The industry is constantly growing with the wants from consumers around the world. In order to meet and satisfy these wants from customer, “Development in the textile and clothing industry has focused on technological and cost aspects. Emphasis has been placed on keeping the price of the final product low and increasing efficiency in production.” (Niinimaki & Hassi, 2010, p. 1876) At the same time, with this expansion of the textile manufacturing industry and its consumption, pollution, climate change, fossil fuel and raw material depletion, and water pollution and shortage are constantly occurring
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Textile industry is the largest manufacturing industry in Pakistan. Bhanero Textile Mill of Umer Group is also one of the major players in Pakistan. This report contains industry analysis of textile industry in Pakistan and shows current status of Bhanero Textile Mill in the light of “SWOT Analysis” and “Porters Five Forces Analysis”.
The most troubled sector of recent times is Readymade Garments (RMG) sector of Bangladesh which is the backbone of our economy. This labor intensive industry has accommodated 4.5 million workers 80% of whom are women in the last fiscal year1. So there are about 5,000 garments factories scattered across the country. 78% of our foreign earnings come from this sector2. This sector keeps our economy moving but the industry has been facing numerous problems. Poor working conditions, bad industrial relations, low wage, arrogant and ruthless attitude of owners or management and lack of solid and positive initiative on behalf of successive governments has made this sector questionable to world market. It has lost GSP (Generalized System of Preference) advantage in the U.S market which has created image crisis for the industry. This is fear of loosing GSP advantage in the EU market as well. To save the employment generation and one of the largest foreign currency earning sectors, BGMEA, BKMEA and Government should adopt an integrated approach on the one hand and boost up image of this industry on the other.
India is a labour abundant country and the textiles and clothing sector is a labour intensive and traditional sector of the Indian economy. This particular industry alone accounts for about 14% of the industrial production, making 4% of GDP; and also estimates for about 11% share in the country’s total exports basket. It provides employment to 45 million people, not only does it generates jobs for its own industry but also increases scope for other complementary sectors (Ministry of Textiles, 2013). As we recall in the history Indian T&C sector has been an important part of the Indian economy, playing a prominent and promising role in our industrial development. At present also the Indian T&C sector holds
The major competitors of Pakistan are Bangladesh, India and China which don’t have such issues like Pakistan have. Pakistan slowly losing its market shares to the competitors. The recession also decreases the overall demand of Textile products. In order to compete in the international market, Pakistan cut down some of their cost which also comes with the decrease in quality. Pakistan in lagging behind its competitors and that is the huge threat to the Textile Industry of Pakistan.
As soon as the shift to a free trade regime appeared along with the competition with countries such as China and Indonesia the quick collapse of Bangladesh’s textile industry has been predicted. However, the opposite occurred. We can highlight three major reasons to explain what happened:
Textile and clothing industries are among the largest European manufacturing industries. According to the Annual Report of the European Apparel and Textile Confederation (EURATEX) (2015) the employment in the sector rose for the first time in many years. One of the reasons is the increment of the exports outside the European Union: 27% of the total industry turnover.
The shift to a free trade regime in the textile industry was good for Bangladesh. Bangladesh prospered when other economies were not t doing so well. The textile industry greatly increased causing it to become a major reason as to why the economic has continued to increase. Increasingly bring in billions and billions from exports between 2006 to 2012 like the book mentions.
From 2005 the textile segment has been made up of 2 companies, transforming raw materials into fabrics, from spinning to finishing and ennobling. Handicraft product quality and technological research development characterize this business segment which works with internationally recognized names of the apparel and fashion industry.