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- Title
Strategic Management Perspective for Sustainable Development in the Handloom Industry.
- Authors
Singh, Sushmita; Srivastava, Shashi
- Abstract
The handloom sector plays an indispensable role in Indian economy. The level of intricacy obtained from handloom fabrics is unmatched when compared to machine-made fabrics. It signifies the diverse and rich culture that India inherited which is visible in the form of its uniqueness in terms of the designs. In spite of being a low technology-driven industry, it has managed to sustain its growth and importance in this era of technological advancement and globalization. This sector contributes a lot in spreading the rich cultural heritage of the country. The survival and sustenance of this sector is mainly due to the contributions of the skilled weavers. This paper is conceptual in nature and gives a detailed insight about the growth rate of the textile industry in India, the share of the handloom sector and its market structure. More specifically, the paper focuses on the market assessment of handloom industry of Varanasi and its operational model. For this purpose, an unstructured interview was conducted with the handloom weavers. A detailed Political, Economic, Social and Technological (PEST) analysis was carried out for the purpose. Based on the above study, a business model has been proposed, which the author hopes will help to increase the profit share of the weavers who are forced to survive on meager wages. Factors affecting this industry shall also be analyzed using Porter's Five Forces Model.
- Subjects
INDIAN economy, 1991-; SUSTAINABLE development; TEXTILES; MARKET design &; structure (Economics); HANDLOOM industry
- Publication
IUP Journal of Business Strategy, 2018, Vol 15, Issue 3, p39
- ISSN
0972-9259
- Publication type
Article