The Indian Home Textile Industry Is Gaining Global Foothold

Two decades back, stylish interiors or beautiful indoors were in minds of only a few homeowners. Most of the houses had limited stock of bed linen and bedsheets, which were washed and reused again and again. Home textiles and furnishings were majorly seen in the market during festivals only.

Now, thanks to the increasing number of households, growth of Indian retailing, rising disposable incomes, growth of the housing, hospitality and healthcare sectors along with mounting consumerism, we are witnessing a change in Indian middle-class lifestyle. People now, especially the young working couples, spend a considerable amount on interiors to give a trendy and modern look to their homes. All these factors have increased the demand for home textile products by 30-40% per annum.

Further, with e-commerce giants adding home segments to their websites, home furnishings and textiles have become even more appealing to the public. Be it cut-length curtains or readymade home textile items, the whole process of shopping has become hassle-free. A growing demand for high-quality home furnishings on e-commerce websites from around the world can be seen clearly.

India, in particular, is a home to some of the biggest home textile manufacturers including the likes of Welspun (3rd largest towel producer), Dicitex (5th largest furnishing fabrics producer) and Trident (largest terry towel manufacturer). Additionally, several Indian brands such as Spread, Birla Century, Super Net, ABN, etc. are renowned globally and growing at a healthy pace. Even some of the international brands, such as UCB, Espirit Home and many others, have witnessed a growth rate of 20-30% in the Indian home textile market.

The home textile industry in India is varied in terms of pricing, colours, design and even consumers. There are some who prefer international brands with no constraint on price while there are consumers who look for high volume at reasonable prices. Today, a consumer is becoming highly aware of the environment, safety and hygiene and thus, the demand for features like stain-resistant, fragrance, flame retardant in home textiles has gone exponentially high.

In 2014, India’s share in global home textiles was 11% that suggested a strong potential to grow. Indian textile companies get some favourable advantages in the rising global market. These include the huge availability of low-cost cotton, cheap labour, promising Government policies and the current trend of depreciation of Indian Rupee vis-à-vis foreign currency. All these factors have supported the potential of Indian textile players to reach great heights in the segment.

Mayank Mohindra is an author on apparel, fashion and textile industry. His articles are based on latest apparel industry news, textile news and/or analysis of the dynamics of global apparel trade, and fashion industry.

The Growth and Development of the Automobile Industry – A Deeper Insight

The word “Automobile” has its origins in Greek and Latin and it has become an integral part of every man’s life. It has become so indispensable that on an average, a person spends at least 3 hours in his vehicle every day. Automobile was once thought of as a luxury and only a select few could indulge in. Now, the times have changed and automobiles have become a means of transportation catering to the vast majority.

The transformation from luxury to inevitability

Automobiles, in general, refer to the humble car and the estimates suggest that there is a car for every eleven persons on earth amounting up to 590 million passenger cars. There are various variants of automobiles that cater to every cross section of the population. There are variants that could set you back by a couple of million dollars and other models that cost you a few thousand dollars.

The technological advances in the automobile sector have been tremendous in the last 100 years. The century’s greatest invention or advancement should definitely belong to the automobile industry. One of the earliest pioneers of the automobile Industry was Ransom Olds from the Oldsmobile factory. In the early 1900′s, he introduced the Production Line concept, thus churning out vehicles every few minutes. This idea was greatly revolutionized and implemented by Henry Ford, who elevated automobile industry to the next level. Ford quickly grew in the first half of 20th century and slowly but steadily spread globally.

Growing along with time

With advancement of age, the automobile industry gradually grew in continental Europe and England. Japan introduced quality initiatives that further enhanced the industry. Toyoto from Japan were the pioneers of Total Quality Management and Six Sigma, which have been the guiding principles of the automobile industry for the last 50 years. Today, Toyoto are the world’s biggest automobile company according to recent market estimates.

The global boom of the 1980′s was largely because of the automobile revolution. Ford, General Motors and Chrysler, the big 3 automotive giants of America, had a huge say on the country’s economy. They decided the health of the economy and the recent global economic recession has affected them badly. This has made them approach the government for loans and benefits, which have been fulfilled by the government after placing appropriate clauses.

Advent of technology and innovations

Automobile has transcended from being a medium of transportation to a medium of entertainment after the advent of super fast cars competing against each other. NASCAR and F1 races are huge crowd pullers every year. People have made fortunes and drivers of these machines have made their name in history. The fact that automobile racing involves huge costs has made the racing industry reel in these uncertain economic times. The sport has seen tragedies with loss of life in some instances. This has made room for strict safety regulations, which are now mandatory for all the automobile shows.

The negative part

Although man has made a huge leap forward with automobiles, there is a downside to this technological wonder. The emissions from these machines have raised serious environmental concerns with calls for more eco-friendly vehicles. Automobile companies have invested hugely in research and development of eco-friendly vehicles. Except for this single downside, there is slightest of doubts to say that automobiles have been the find of the previous century.

Online Gambling

Online casinos

There are a large number of online casinos, in which people can play casino games such as Roulette, Blackjack, Craps, and many others. These games are played against the “house”, which makes money due to the fact that the odds are slightly in its favour. Some unscrupulous sites have been proven to offer rigged games, which are less mathematically fair than they appear.

Online poker

There are a large number of online poker rooms which offer various games of Poker, most commonly Texas hold ‘em, but also Omaha, Seven-card stud, and other game types. Players play against each other, with the “house” making its money through the “rake”.

Online sports betting

Several major bookmakers offer fixed-odds gambling over the internet, with gamblers typically betting on the results of sporting events.
A relatively new internet innovation is the bet exchange, which allows individuals to place bets with each other (with the “house” taking a small commission).

Funds Transfers

Typically, gamblers upload funds to the online gambling company, make bets or play the games that it offers, and then cash out any winnings. European gamblers can often fund gambling accounts by credit card or debit card, and cash out winnings directly back to the card.
Because of the questionable legality of online gambling in the United States, however, U.S. credit cards frequently fail to be accepted. However, a number of intermediary companies – such as Firepay, Neteller, and Moneybookers – offer accounts with which (among other things) online gambling can be funded. Casino operators and online poker rooms often offer incentives for using these ‘alternative payment methods’.
Payment by cheque and wire transfer is also common.

General legal issues

Online gambling is legal and regulated in many countries including the United Kingdom and several nations in and around the Caribbean Sea.
The United States Federal Appeals Courts has ruled that the Federal Wire Act prohibits electronic transmission of information for sports betting across state lines. There is no law prohibiting gambling of any other kind.
Some states have specific laws against online gambling of any kind. Also, owning an online gaming operation without proper licensing would be illegal, and no states are currently granting online gaming licenses.
The government of the island nation of Antigua and Barbuda, which licenses Internet gambling entities, made a complaint to the World Trade Organization about the U.S. government’s actions to impede online gaming.

The Caribbean country won the preliminary ruling but WTO’s appeals body has partially reversed that favorable ruling in April, 2005. The appeals decision effectively allowed state laws prohibiting gambling in Louisiana, Massachusetts, South Dakota and Utah. However, the appeals panel also ruled that the United States may be violating global trade rules because its laws regulating horse-racing bets were not applied equitably to foreign and domestic online betting companies. The panel also held that certain online gambling restrictions imposed under US federal laws were inconsistent with the trade body’s GATS services agreement.

In March 2003, Deputy Assistant Attorney General John G. Malcolm testified before the Senate Banking Committee regarding the special problems presented by online gambling. A major concern of the United States Department of Justice is online money laundering. The anonymous nature of the Internet and the use of encryption make it especially difficult to trace online money laundering transactions.

In April 2004 Google and Yahoo!, the internet’s two largest search engines, announced that they were removing online gambling advertising from their sites. The move followed a United States Department of Justice announcement that, in what some say is a contradiction of the Appeals Court ruling, the Wire Act relating to telephone betting applies to all forms of Internet gambling, and that any advertising of such gambling “may” be deemed as aiding and abetting. Critics of the Justice Department’s move say that it has no legal basis for pressuring companies to remove advertisements and that the advertisements are protected by the First Amendment. As of April 2005, Yahoo! has provided advertising for “play money” online gaming.

In February 2005 the North Dakota House of Representatives passed a bill to legalize and regulate online poker and online poker cardroom operators in the State. Testifying before the State Senate, the CEO of one online cardroom, Paradise Poker, pledged to relocate to the state if the bill became law. However, the measure was defeated by the State Senate in March 2005. Jim Kasper, the Representative who sponsored the bill, plans a 2006 ballot initiative on the topic.

Problem gambling

Because the internet brings gambling right into a player’s home, there is concern that online gambling increases the level of problem gambling. In the United States, the link between availability and problem gambling was investigated in 1999 by the National Gambling Impact Study, which found that “the presence of a gambling facility within 50 miles roughly doubles the prevalence of problem and pathological gamblers”. If this finding is correct, it is reasonable to expect that easy access to gambling online would also increase problem gambling.

That same report noted the possibility that “the high-speed instant gratification of Internet games and the high level of privacy they offer may exacerbate problem and pathological gambling”. Bernie Horn, of the National Coalition Against Legalized Gambling, testified before Congress that the availability of online gambling “magnifies the potential destructiveness of the addiction”.