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    Pest Analysis On Textile Industry

    Uploaded by

    Reena Pal
    The document analyzes the PEST factors that affect the textile industry in India. It discusses the political, economic, social and technological aspects of the industry. The political factors include tax policies, employment laws, and environmental regulations. The economic factors incorporate economic stability, growth, interest and inflation rates. Socio-cultural aspects encompass population trends, consumer behavior and religion. Technological factors involve automation, distribution channels and the rate of technological change. In conclusion, political stability, government support initiatives and changes in economic, social and technological landscapes can impact the textile industry.

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    Pest Analysis On Textile Industry

    Uploaded by

    Reena Pal
    193 views5 pages
    The document analyzes the PEST factors that affect the textile industry in India. It discusses the political, economic, social and technological aspects of the industry. The political factors include tax policies, employment laws, and environmental regulations. The economic factors incorporate economic stability, growth, interest and inflation rates. Socio-cultural aspects encompass population trends, consumer behavior and religion. Technological factors involve automation, distribution channels and the rate of technological change. In conclusion, political stability, government support initiatives and changes in economic, social and technological landscapes can impact the textile industry.

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    PEST

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    Pest Analysis on Textile Industry

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    The document analyzes the PEST factors that affect the textile industry in India. It discusses the political, economic, social and technological aspects of the industry. The political factors include tax policies, employment laws, and environmental regulations. The economic factors incorporate economic stability, growth, interest and inflation rates. Socio-cultural aspects encompass population trends, consumer behavior and religion. Technological factors involve automation, distribution channels and the rate of technological change. In conclusion, political stability, government support initiatives and changes in economic, social and technological landscapes can impact the textile industry.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    193 views5 pages

    Pest Analysis On Textile Industry

    Uploaded by

    Reena Pal
    The document analyzes the PEST factors that affect the textile industry in India. It discusses the political, economic, social and technological aspects of the industry. The political factors include tax policies, employment laws, and environmental regulations. The economic factors incorporate economic stability, growth, interest and inflation rates. Socio-cultural aspects encompass population trends, consumer behavior and religion. Technological factors involve automation, distribution channels and the rate of technological change. In conclusion, political stability, government support initiatives and changes in economic, social and technological landscapes can impact the textile industry.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 5

    PEST ANALYSIS

    PEST ANALYSIS OF TEXTILE INDUSTRY


    IN INDIA
    Political (Legal) Aspects:
    An Industry will not be able to gain success, good reputation and trust if it
    will not consider legal and political sector as part of their strategy. Political and
    legal sectors include the needs of the company to follow the given policies and
    regulations of the government in order to be considered as legal and authorized
    business company. In this manner, industry should be able to consider political and
    legal aspects so as to show that they value the policies and regulations of the
    government in any of the business operations.
    - Tax policy

    - Employment laws
    - Political stability
    - Environmental regulations
    - Trade and tariff restrictions

    Economic Aspects:
    It is important that apparel must also give enough attention to its economic
    stability. The economic goal of a certain industry is like an axis in which other
    objectives or goals are revolving. The economic factor involves the context in
    which an industry belongs, i.e. the configuration of the competition in which a
    company operates the active demand of the products, general economic condition
    of the nation or region, conditions in relation with other industries, and the
    situation of the resource markets.
    - Economic stability
    - Economic growth
    - Interest rates
    - Inflation rates
    - Exchange rates

    Socio-cultural Sector:
    Society and culture is an important factor that must be given emphasis by
    any business, specifically those who are operating in the global arena. It is

    important that the company must operate in compliance with the social systems in
    order to gain good reputation and effective public image. On the other hand,
    cultural aspects is equally essential, in order to understand the various needs of
    different individuals that belongs to different cultures.
    - Population growth rate
    - Age distribution
    - Career attitudes
    - Consumer behavior
    - Religion and culture itself

    Technological Aspects
    The complexities of achieving business success through increased efficiency,
    effectiveness and competitiveness, combined with innovative applications of
    modern technology, has heightened the awareness of both technology and business
    managers towards more strategically oriented approaches for planning and
    management of any industry. Hence, it is important that industry must be able to
    give consideration to the technological aspects.
    - Distribution and communication channels
    - Technology incentives
    - Automation
    - Rate of technological change

    - Environmental and ecological aspect


    - Barriers to entry
    - Production level
    - Outsourcing decisions

    Conclusion:
    Political stability.
    Govt. should apply sustainable policies for the beneficial of the Industry.
    Government Initiatives:
    Government has taken the following initiatives to uplift the Textile Segment:
    1. The Government has announced the release of a subsidy of US$ 533.87
    million for the textile industry under the Technology Up-gradation Fund scheme
    (TUFs).
    2. The government extends 10% capital subsidy and 5% interest subsidy on
    installation of machineries and for processing machinery under the TUFS.
    3. A 41-member Working Group has also been announced to be set up with a
    National Fiber Policy, to ensure self-sufficiency in fiber consumption and export
    requirements in India.

    Economic situation:
    The economic condition of world can also affect the industry as increasing
    inflation rate make the cost of production high and thus reduce the profit margin of
    the industry.

    Social situation:
    The change in the lifestyle of the people affects the growing demand of the
    apparels. The change in the lifestyle and needs in different demographics also
    affect the demand of the customers.

    Technological factor:
    Technological advancement in all the sectors of the country has changed the entire
    socio-economic environment. Especially in the textile sector there is a lot of
    technological development.

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