History of Textile Industry in India
Textile industry of India is in fact one of the biggest and most relevant industries of the country and its economy. India has a long textile history and highly domesticated textile industry because of which the history of fabric, weaving and dyeing fully thrives in the country. Today’s it is one of the biggest employing sectors in India, thus it holds great opportunities for any businessmen. India is renowned for its wide varieties of textile, such as cotton, silk, wool, jute and synthetic fibre, which put the country in quite strategic position in the export of textile. Textiles constitute the second largest production sector in the country and has established itself as one among the key emerging markets for textiles globally.
This industry is one of the best places to invest in today provided you want to start a small business or establish a large manufacturing firm. As the fashion consciousness rises more and more, more demand for fashion, home textiles and environment friendly fabrics there is no better time for an investors to venture into the textile business in India. However, knowledge of processes taking place in this industry such as trends, threats and consumers’ habits are important determinants to adopting the right strategies and ensuring competitiveness in this evolving market.
In the capacity identify the features of future business of textiles in India
A significant sector of India’s textile market is enormous and growing significantly at the moment. Textile industry of India comprises of fabric makers, readymade garment producers, textile processors and exporters etc. There are also many opportunities for the entrant to invest within these sub-sectors whether targeting the home market or the global market. However, with the dawn of e-commerce, digital marketing, and a global emphasis on use of sustainable fabric, there are opportunities that exist in the future for enriched textiles sector that includes; organic textiles, environment friendly apparels, and selling textiles directly to consumers.
India also has a good share in exporting textiles products in the global market from the textile industry. Textiles and garments constitute one of the most important export products belonging to India particularly to such markets as the US and the European Union as well as the Middle East. Indications from the Ministry of Textiles reveal that textile and apparel products as a single sector contributes about 11% to India’s export revenues. Moreover, a increase in disposable income and fashion sensitive population in India makes the retail outlet a opportunity in India.
Besides, India has a good policy environment, In Fact Government of India launched many schemes for development of textile industry such as ‘Make in India’. As one of the leading textile markets of the world, it has all the opportunities for the entrepreneur who is going to explore the textile business in the country including availability of various raw materials, skilled labour force, and government incentives etc.
Little Investment Required Textile Business Venturing for First time Entrepreneurs
Below, there are some low investment business ideas for those who want to start a textile business with a small amount of money. These business ideas require relatively low startup costs and can be highly profitable with the right approach:
Custom T-shirt Printing: One may still begin the business with little capital and it can be operated from home by printing custom T-shirts. You can print designs for commercial, occasions or general use depending on your proclivity. This business has been made more common by the use of online shopping.
Online Fabric Store: An onset natural selling business idea can be to sell fabrics online including cotton, silk or wool among others. requires little capital to set up since you only need an e-commerce site through which you can get an order of fabrics from wholesalers or manufacturers.
Handmade Textile Products: To venture into the market entrepreneurs should start a business venture that is involved in the selling of embroidered textiled textile products, hand weave textiles, upcycled or reconstructed textiles among others. It is usually easier to get better margins with these types of products than it is with normal ones.
Tailoring Services: Elevator services for making clothes or clothes alteration services can be a good starting point to the textile value chain. It can be as small as 150 square feet and can be expanded to the size you want depending on the growth of the business.
Textile Dyeing and Printing: If the person acquires certain skills, he can begin a small scale dyeing and printing business and earn good profits. It affords you the opportunity to design garments and textiles to a more specific level without any inferior product being produced.
How to Select the Proper Textile Manufacturing Sub-Sector
The decision to select the right specialty in the textile manufacturing business is critical to get it right. There exist many opportunities in sector textile though they are specific to certain segments in India. Depending on whether one is in the fabric production, garment manufacturing or in the textile processing, the strategic and wise decision involves defining a niche market that will optimize sales. The following, therefore, represents some of the potentially profitable niches of textile manufacturing in India.
Source of Supply of Raw Material for Your Textile Business in India
The selection of the proper type of input materials is among the company’s most essential activities in textiles production. India has a abundance of raw material resources including Cotton, Silk, Wool, Jute etc. However, the realization of economies of scale can only be achieved if key suppliers who deliver quality supplies within the required time are selected and nurtured. You should consider the quality of fabrics and affordability of fabrics as well as seek long term supply relations with suppliers.
Moreover, the use of environmentally friendly materials in an organization’s supply chain can enable you appeal to an increasingly environmentally conscious market and meets its demand on ecological products.
Setting Up Your Textile Business: Legal Requirements and Registration.
Every business in India must conform to the legalities which are an important factor because it is a business of textile. It will be advisable for your business to be legitimized by registering it, acquiring licenses that might be required besides being able to meet legal requirements concerning labor and environment. Some of the key registrations and licenses are as follow.
Where to find suppliers and how to develop effective first class supplier relations in India
It is very important to identify right suppliers in order to sustain a good business in the textile industry. Regardless if you are buying for materials, clothes, or finished goods make sure your suppliers give you quality supplies at reasonable price. Another general area involves suppliers where you should ensure that you are in regular contact with suppliers so as to understand their needs for all your cooperation and have to negotiate for the best deals as well as gain their trust. Carry out evaluation of your suppliers to enusre that they deliver on time and that the supplies they deliver are of high quality.
Background and overview of the Textile Export and Wholesale Market in India
Export wise India occupies a very significant position in the global textile exporting countries. Knowledge of export process, rules and requirements of the foreign markets help to facilitate business opportunities. Moreover, focus is made on the exports of textiles since exports can really be effective when markets have been identified to have high demands for the product, the products meet the international standard and having business with the buyers in foreign countries.
To access the B2B market, one need to reach out to other retail shops, wholesale and distribution companies. The importance of compiling a database of business contacts is because it is much easier to sell larger volumes of products to organizations.
Conclusion: Converting Your Textile Business Idea into Success in India
There are tremendous opportunities for the business men in textile industry in India. If you are able to research the market, develop a sound business plan, select the proper niche, and actually market your products correctly, you can create a sound textile business. Beginning strategically with digital technologies, targeted and efficient advertising along with an elementary sensibility of sustainability will place the competitors in a strategic position in this developing market.