Effect of Global Recession on the Indian Textile Industry - Essay Example

1. Research Question South Asia’s apparel industry is heavily focused on exports as the core dynamic of the business model it follows. India, in recent years, has taken strides to become one of the largest manufacturers of textile products, as well as the supplier for many fashion houses and brand-name departmental stores in the developed West. Its rapid growth in the last decade has been at the back of a booming global demand, making the nation’s textile industry one of the biggest employers in the region. This paper researches the following question: “To what extent has the Indian textile industry been affected by the global recession and how will it survive?” 2. Philosophical Approach The concept behind research philosophy is to offer the author of a paper a chance to express their views, while utilising some form of strategy. Over the last few decades, the exploring and understanding of phenomena has given birth to various paradigms of social research, especially in context of educational betterment. Paradigms are a mixture of concepts and variables, attached to methodologies and tools that can help shape research into a certain subject or verify a certain theoretical proposition (Saunders et al, 2006). The positivist paradigm seeks to gather true knowledge, utilising a method of observation and experiment. The primary approach used in this paradigm is quantitative, with surveys and experiments becoming the tools to gage relationship and effect between two or more entities. On the other hand, an anti-positivist paradigm approaches a research subject under a qualitative cloud, using case studies and phenomenological methods to understand a single entity and its activities. In reference to this paper, the approach taken is under the positivist paradigm, as the crux of the research is evaluating the link between two or more entities, and the effects of change that is passed because of the existing linkage. However, the author acknowledges the importance of the anti-positive approach, and aims to undertake some tools of this methodology like interviews, in order to reach a more comprehensive conclusion. 3. Research Design The methodology of research adopted is important in selecting the most suitable approach by which the researcher can answer the aims of a paper. A part of the approach is linked to the strategy adopted by the researcher; if deductive, the researcher is seeking to develop and test a theory, while if inductive, it involves the gathering of data from which a theory is likely to be built (Saunders et al, 2006). The research in this paper is set around understanding the linkage between the Indian textile industry with the Western markets of Europe and US, and the impact of the global downturn and financial crisis on the industry. In order to evaluate the information available on the subject, it is necessary to undertake tools that are in line with paradigm adopted, as discussed in the earlier section. A quantitative approach will be adopted to measure and analyse the information, with an amalgamation of primary and secondary sources being used to for the purpose of collecting the required data (Saunders et al, 2006). Quantitative methods are factual in nature, and offer an understanding of an issue by use of statistical models or graphs. On the other end, qualitative methods focus more on the behaviour of entities, establishing their effect on the topic in context. Under the quantitative approach, interviews and surveys will be conducted to formulate the primary source of data, while published matter like reports and projections will be used as secondary sources to reach a stronger evaluation of the subject, and allow for a stronger analysis of the research questions. Qualitative researcher is often an approach used by researchers to understand the behavioural nature of entities involved in the research topic, in order to grasp a more comprehensive vision of the topic (Saunders et al, 2006). Data from the secondary sources will include past valuations of the textile industry, export figures as well as projected growth prior and after the recession. All numerical data will be analysed using Excel, in order to create graphs that can help add dimension to the change in trajectory that has come in effect due to the downturn and financial crisis. 4. Methods for Data Collection As discussed in the previous section, data will be collected using a combination of interviews and surveys. The questionnaire form used for the survey will focus on identifying the respondent’s view of the scenario faced by the Indian textile industry. It will aim to gage the perception held in relation to international trade, and the choice of markets made by the industry leaders for growth of the sector. Interviews will be conducted with chosen functionaries of the Indian textile industry, as well as the linked consumers in the European markets. These interviews will focus on understanding the view of the industry in reference to the global financial crisis, and its implications, as well as the readiness of the alliances and steps being undertaken to ensure its survival. 5. Respondents It is out of this project’s scope to offer coverage of the entire Indian textile sector, and their export-linked partners in the US and Europe. A key reason for this is the time and financial constraints that govern the completion of this paper. A sample of the population will be used to offer a general view and answer the questions that are being researched. Selection of the sample is based on the dominant and large players in the textile and apparel sector, as they are more likely to release information critical to their business operations. Small establishments are unlikely to want to divulge data that could result in a negative outlook on their operations and cause problems in future push for investment. 6. Resources The paper is being completed by a sole individual. With the constraints on travel and time, a large part of the research will be conducted using indirect communication. This will include emails to various entities that must be contacted to collect data, as well as telephonic interviews with the sample of population that will allow for a quantitative understanding of the research topic. The secondary research will be conducted using resources available at the library, as well as information available online from the websites of manufacturers, retailers and industry experts. Data collection will form Phase 1 of the project and will be covered in the first 2 weeks. This will initially focus on the secondary research, while contact with institutions in the chosen sample is established to conduct primary research. Phase 2 will be the analysis of the conducted data, which will include collating the information and formulating tables and charts in Excel to gage a better understanding of the subject matter. This will be completed in 3 weeks. Phase 3 will involve completing the first draft of the report, utilising the analysis of the data collected. The timeframe for this phase is set at 4 weeks. The final step in this paper, Phase 4, will be to establish completion of the research topic, and offer a concrete answer to the question: how has the global financial downturn affected the Indian textile industry and what does the future hold for it? 7. References Abernathy, F., Volpe, A. & Weil, D. (2006) ‘The future of the apparel and textile industries: prospects and choices for public and private actors”, Environment and Planning A, Volume 38, Issue 12, pp. 2207 - 2232 Bagchi, J. (2004) Indian Textile Industry: Liberalisation and World Market, Samskriti Chitre, V. (2003) ‘Global Slowdown and the Indian Economy’, Economic and Political Weekly, Volume 38, No. 21, pp. 2056 - 2066 Mukhopadhyay, A. (2004) ‘Estimation of Cost of Quality in an Indian Textile Industry for Reducing Cost of Non-conformance’, Total Quality Management & Business Excellence, Volume 15, Issue 2, pp. 229 – 234 Saunders, M., Thornhill, A. & Lewis, P. (2006) Research Methods for Business Students, Financial Time / Prentice Hall Tokatli, N. (2007) ‘Global sourcing: insights from the global clothing industry – the case of Zara, a fast fashion retailer’, Journal of Economic Geography, Oxford University Press Read More