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.

Tips to Set-Up Your Own Company As a Foreigner

There’s nothing like setting up an offshore company, but you also need to understand the limitations you have. The primary restriction being the laws in the foreign country, you will need to make sure the support of a legal expert. Though you can read articles and books on the business laws of your desired country, the chances of knowing them all are less.

Law, as you may know, is ever-changing and you can’t really do much about it other than keeping yourself updated with the nitty-gritty. Therefore, you must have a trusted legal partner with you who will work for your interest. Here are a few tips to help you find a good legal expert;

· Review Online Listings of the Lawyers: There are websites that give free reviews of the businesses.

· Ask for Recommendations and Referrals: Speak to your friends and family members who have had recently worked with lawyers. Ask them who they hired, what kind of service they have opted for and where they happy with the services. It is equally important to ask whether they would recommend.

· Make a List of Potential Attorneys: While doing so, jot down the attorney’s name, contact number, address and website address. This way you can organize your search.

· Review Attorney’s Website: Every website usually provides information about each attorney who is working for the firm. It is suggested to check the attorneys’ educational background as well as the work history. Typically, you should seek a lawyer with at least 3 to 5 years of experience in practicing the kind of law you need help with.

· Write out Questions about the Lawyer’s Practice: Generally, you will find the basic information about the lawyers online, say such as; how long she/he has worked and/or where and when she/he went to the law school. But there are certain areas that you will need asking questions; like not every firm states their pricing online as that may vary from one lawyer to another.

Plus you will need to know about the time frame, right? You should ask them a tentative time period for the delivery of work. Similarly, you need to ask about their availability. Ask how quickly the attorney can start working on your assignment and then decide so.

· Bring Documents to the Meeting: If you have fixed a meeting with the lawyer, he/she may ask you to bring the documents. Make sure you have them with you. Show it to the lawyer so that he can have a better understanding of your situation.

Owning a Car Vs Using Rideshare

It is not a secret that buying, owning, and maintaining a car costs a significant amount of money. Especially now, when gas prices are high and continue to increase. What if you could avoid paying as much as you do right now? Even while still getting to where you need to go?

Many city dwellers can. In fact, many people from Chicago are already dumping their vehicles and becoming reliant on rideshare. Current research has shown that it is in fact cheaper to use services such as Uber and Lyft in cities including Chicago, Los Angeles, New York, among others.

However, some people are hesitant to use these services due to all of the negative news stories reporting violent crimes involving drivers of such services. However, some services such as Uber are introducing safety features to help riders feel more comfortable reaching someone in case of emergency. It also helps hold drivers accountable by creating a stronger sense of authority, of being watched.

There are many benefits to using these rideshare services in bigger cities. In bigger cities drivers tend to have to pay to park their vehicles in addition to other typical costs such as gas, repairs, affordable auto insurance, etc.

On the other hand, some reports say that the cost of using rideshare will not be cheaper than owning a car until 10 years from now. But, it just depends what is best for the individual budget. In fact, news sites have even developed calculators to see if ridesharing is beneficial to your budget. Another detail that the calculator includes is the cost of time. A detail often overlooked by the monetary costs of things, but a detail equally, if not more valuable to people.

Additionally, there are options to “pool” with other rideshare users to eliminate even more costs. This option is not always the best depending on the intentions of your trip, but can be especially helpful for the commute to work, for example.

The increase in regular rideshare users creates another problem, unfortunately. The amount of cars picking up passengers has disrupted the flow of traffic in certain regions of the city, especially in Chicago. They have even increased fines of traffic violations.

The tickets and gas prices also seem to be turning away some drivers as they pay out of pocket for each item, in addition to possible rideshare insurance. But, drivers who discover that there is a growth in the city population using their services may attract attention to drivers hoping to make more money.

This then creates an issue for rideshare companies who are already struggling to pay their workers. Companies such as Uber who are providing benefits to European drivers, the costs will not go down anytime soon for them.

Overall, it may benefit the individual to utilize rideshare instead of owning a personal vehicle. But, there are many factors to take into account before switching over, both personally and the industry in whole. Rideshare is undoubtedly a hot topic at this time and does not appear to be dying down anytime soon.