Top 5 Latest Innovations in Textile & Garments Business
- BY Jaspreet Kaur
Feature Writer, BusinessEx
- Nov 11,2020
- 16 Mins Read
Textile & Garments Business
The Indian textile and garments business is a significant contributor to the country’s economy. This industry creates plays a major role in the country’s growth through its contribution in terms of employment opportunities, export income, and industrial output. India is set to become the new global manufacturing hub for textiles and garments. As per the report published by Grand View Research Inc., the global textile business is predicted to reach USD 1,350.2 billion by 2027. In recent times, this industry has experienced great changes. The textile business ideas have witnessed great innovations where extreme change has become the new normal. The competition has become stricter owing to which innovation has become important to offer the required competitive edge. The last few years have been very productive with all new kinds of innovations contributing to the textile and garments sector.
With the changing time, consumers have now been associated with the digital world, many designers have adopted new technologies to push the boundaries of manufacturing, marketing, and production. From artificial intelligence, blockchain, and sustainability.
Here we tell you some of the latest innovations that are being used in the textile sector.
New developments in design technology helps in designing and selling the product. Designing a new garment includes looking for the best fit, for example, to find how to lose or well-fitted the costume is. This process can be improved by 3D rendering. Today many brands are adopting the trend of 3D printing in their collections. It results in reduced waste and is less-labor intensive.
Other than this, the introduction of artificial intelligence and automation has bought a new wave of innovation to the textile industry. This innovation has helped many businesses to remote monitor and manage their machinery and data collection to work towards further development. For example, features like chatbot and touchscreen have are being used to enhance the customer experience. The technology behind these includes algorithms that help in tracing customer journey that leads them to buy the right product. These tools are effective, other than this trend forecasting and supply chain management are some of the most lucrative avenues for artificial intelligence. For example, real-time inventory tracking helps in saving time and warehouse management.
Anyone with experience in the garment industry, can look for textile business ideas and start their own venture.
With the ever-changing consumer demands, technology has been improving the textile sector to meet the demands and latest trends. With the help of the Internet Of Things (IoT), there has been an improvement in inventory management, productivity, and data sharing. This includes apparel with wearable spaces, responsive sportswear, and a lot more. This allows the factories by providing them real-time feedback from companies about defective products which later on saving money and reducing waste.
This also helps in improving customer engagement as they can view products before buying. Some companies are using artificial intelligence and augmented reality to improve customer experience.
This industry plays a significant role in the textile and garments industry. It helps the customers so that they can connect, and business to engage. In terms of purchasing machinery, customers like to interact personally in different areas. Textile business ideas must opt for advanced tools that are available in the market. E-commerce is getting bigger and has impact the lives of many people. It has not only reduced the turnabout for order fulfillment; but, also enhanced the buying experience.
This is a great tool for attaining transparency and efficiency in the supply chain. It enables all the members, from carriers and banks to suppliers to be connected to exchange information securely. This technology is used to track records of clothing apparel and supply chain through technology like track and trace and inventory management.
With the help of blockchain, a tag is added to a product that is used to store the data about a particular product. This includes the following things:
- Who created the yarn
- Who manufactured the product
- What costs are involved in every step
All the blocks of data can be stored in the product’s tag that can be assessed by several users involved in the chain.
The garments industry is responsible for 10% of global carbon emissions. Sustainable apparel production helps in contributing to sustainable economies. To improve sustainability, data science and recycling technologies have great potential. Many brands are now adopting the concept of ‘slow fashion’ and more buyers are preferring to opt for conscious brands over fast fashion.
The textile and garments industry is growing through leaps and bounds with creativity, trends, and cross-culture variations. With the increasing innovations and backed by domestic consumption with rich export demand, the future of this industry seems to be promising. One needs to know textile business ideas and process technology in the textile industry. There is a lot of scope in this industry.
In addition to this, we need to be cautious about how to consume and create a world of sustainable fashion.
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