Question

Suggest three to four ways for the better production of the Textile industry in Pakistan. ​

Answer 1

Answer:

1. Marketing

Targeting the unexplored export markets with the help of aggressive sales and marketing will pave the way for the textile growth. It’s all about hunting your opportunities with the handful of colorful lollipops. If we make investment in our  sales force and train them in the fine art of marketing textile products; we can capture a much bigger market share from other smaller competitors.

2. Collaboration with foreign companies

By making partners with the foreign companies, we will be able to learn a lot from them in terms system orientation, supply chain and it would be feasible to import latest technology. We can also reduce our costs, comply with the international standards, and add value to our products, easiness in marketing our products in different foreign regions, improved labor and thus catching up with our regional competitors.

3. Producing high value products:

It’s better to export yarn than raw cotton. Similarly it’s better to export finished fabric than to export grey fabric. Furthermore it’s very much feasible to export  ready made garments than to only fabrics. What makes the latter better is the value added and subsequent increase in per unit price.

Therefore, the textile industry should focus on the finished products so as to create more value in their products and reap larger margin of profits.

The industry should also diversify into other areas such as technical textiles and non woven’s in order decrease its dependence on conventional and commodity textiles, which is highly sensitive to per unit price and volume for the profit margin.

4. Reducing the cost of business.

China and India are much cheaper in labor, raw material and utilities as compared with Pakistan. Rising inflation also increase the cost of production. We have to control these unnecessary costs if we have to survive in the middle of the two giants of the textile sector in the world.

 

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