Indian textile industry is worth learning from Nigeria
According to a report by Nigeria’s “Business Daily” on May 29, Nigeria was the textile manufacturing center of West Africa in the 1970s. In the 1980s, many large-scale textile companies were born. However, they gradually declined and disappeared. Currently, only local textile companies remain. 2-3 homes. The Nigerian government has established a 100 billion naira cotton textile and garment development fund, so funding is not the main issue. Analyzing the development path of India’s textile industry, Nigeria has many experiences worth learning.
India is also a populous country, with a textile industry output value of US$108 billion, accounting for 5% of its total GDP. It is the second largest textile exporter in the world after China. Germany and Italy have retreated to the third and fourth places. India also has cheap labor. The government has taken various measures to reduce production costs for enterprises. For electricity alone, this convenience ranking is 26th in the world, while Nigeria is 180th. Indian textile companies use dry land and high-quality seedlings to plant efficiently. Cotton, cotton production is sufficient to supply the needs of the industry and can be exported in large quantities; India has a full industrial chain from upstream cotton and linen cultivation, to intermediate yarn and fiber product production, to weaving equipment and to downstream textile design and production, with all links enjoying supporting facilities Policy support; 20 textile industrial parks have been established under the leadership of the government, and the government has provided about 40% of the infrastructure construction support for the industrial parks with an upper limit of US$6 million; the foreign investment policy in the Indian textile industry is also very broad, and wholly-owned enterprises can be established. From April to 2016 In December, India’s textile industry absorbed US$24.1 billion in foreign investment. The Indian textile industry is worth learning from Nigeria
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