Question

Mention various stages of value addition in the textile industry

Answer 1

Value addition in textiles and clothing. According to the Financial Times Lexicon, in economic theory, value added refers to the worth added to a product during the production process-i.e.,the difference between what the producing company paid for its inputs and the price it charges for the finished goods.

Answer 2

Answer:

VALUE ADDITION is the process where we enhance the salability of the product by adding some incentives to it. The world marketplace is continuously changing and so is the demand of people changing. Every person desires some change. i.e. something new & unique.

Explanation:

The difference between the price of a product or service and the cost of producing it is the value-added. Customers' willingness to pay based on perceived value determines the price. Value is added or created in a variety of ways.

The stages of value addition in the textile industry -

• Fiber production
• Spinning
• Weaving knitting
• Dyeing and finishing
• Garment manufacture