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Insight into the Stagnant Performance of Textile Industry in Pakistan - Literature review Example

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According to (Iqbal 2010), the textile industry contributes approximately 8.5% of the gross domestic product of Pakistan with an export value of around 9.6 billion U.S. dollars per annum. This export…
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Insight into the Stagnant Performance of Textile Industry in Pakistan
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Download file to see previous pages Pakistan is a major player globally in the textile industry. The textile industry in Pakistan can be traced back to its origins in 1947. In 1947, the country produced approximately 1.1 million bales of cotton (Iqbal 2010). Over the years, the production of cotton has increased to reach over twelve million bales in 2010. The country has also diversified its cotton products to increase the quality and quantity of products that are exported. For instance, Pakistan textile industry has increased the quantity of ready made garments that are exported.
However, the textile industry in Pakistan has been faced with numerous challenges. One of the issues that have affected the textile industry in the country is the stagnation in the amount of textile products that are exported (Channar & Nannik 2010). Also, other Asian countries such as Bangladesh and China have become fierce competitors in the textile industry. Due to these challenges, it is necessary for the Pakistan textile industry to reinvent itself in order to improve the quantity and quality of cotton products so as to stay competitive.
The study would evaluate the current status of the Pakistan textile industry and globally. The research will examine the global market and production of cotton and cotton related products in to contextualize the situation in Pakistan. The rapid globalization of the world economies has made all countries to be intertwined such as that international issues significantly affect national economies. The research will also look at the amount of investment that Pakistan has dedicated to the development of the textile industry in the country. The research aims to evaluate the factors that have led to the stagnation of the Pakistan textile industry with a view of answering the research objectives. A critical understanding of the issues affecting the growth of the textile industry will help the ...Download file to see next pagesRead More
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