Textile businesses mainly pertain to the design, manufacturing, and distribution of items like clothing, raw cloth, and yarn. It is heavily dependent on the chemical industry, as it transforms raw materials into finished goods through the help of chemicals. Textile businesses are highly lucrative and beneficial for the economy as they create numerous employment opportunities for many skilled labourers. Furthermore, textile businesses attract a highly diverse consumer base that transcends national boundaries and geographical constraints.
However, numerous problems plague the textile business in today’s age. While it is highly successful and yields a lot of money, the effort and resources that go into it are enormous. Textile businesses have a direct impact on the environment since a lot of factory waste is not treated properly. Another important fact to note is that the textile business is dependent on the cotton crop, which in turn takes a lot of time and natural resources to cultivate. This causes a sense of unpredictability in the industry. Likewise, the industry witnesses a lot of water wastage. It is also considered to be a high-waste business since a lot of raw materials do not turn into finished goods.
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The coronavirus pandemic happened to pose bigger issues for the industry. Transportation came to a halt, the field of agriculture took a massive hit, and the import-export of the country ceased to exist for a while. The situation was particularly unfavourable for wage labourers and unskilled labourers, who were out of work temporarily and had no other avenue to turn to. Business owners had to face the issue of storage and selling of their preexisting products, as the offline market shut down arbitrarily due to the lockdown.
Even though several issues hover over the business, the textile industry has taken many steps to counter the said issues. Advanced businesses have started taking steps to minimize the wastage of water by reusing it for more than one process. Moreover, many businesses have started modifying the chemicals that they use in the dying stage of the material.
In the context of the human labour that goes into the success of the textile business, it goes without saying that the textile industry is one of the most important components of an economy. This is because it creates a lot of opportunities for labourers to showcase their skills and creativity. Most importantly, it also creates employment opportunities for unskilled labour.
Even after the onset of the pandemic, many businesses have now created a virtual presence for themselves, which has proved to be a beneficial choice. This has helped in reducing the cost of running an offline store and helped in reaching a wider consumer base, a choice that will prove to be highly lucrative in the grand scheme of things. Despite all the challenges that plague the industry, the textile business is here to stay and contribute to the progressive nature of our economy.