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History of Textile Industry |
| Author : www.victortex.com Date : 8/14/2012 7:23:37 PM |
Everyone knowsthat Textile industry has come a long way to be an organized industry from being a mere domestic industry. Starting with the Industrial Revolution, it has gained a state of supremacy with time. High production of wool, cotton and silk all over the world has given a boost to the textile industry in past years. Though the industry originated in UK, the art of textile production passed to Europe and North America after mechanization of textile manufacturing process in those areas. Asian countries also industrialized their economies and
took steps for the growth of this sector. China, Japan, India and Hong Kong have become leading producers of textile because of the availability of cheap labour which is a very important factor for this industry. Now the industry has matured enough for growth outside the traditional western markets.
The World Trade Organization (WTO) has taken important steps for development of this sector.
In 1995, WTO had adopted Agreement on Textiles and Clothing (ATC), which provided for removal of quotas on textile and clothing among WTO member countries. This agreement was enforced on 1-1-2005 and all the quotas were abolished. Although high tariffs and quantitative restrictions are imposed by the economically developed countries, the developing countries are increasingly exporting textiles to developed and other countries.
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