Category: Industry

In late May, the Santa Clara County, Calif. District Attorneys Office charged a former escrow officer with 32 counts of embezzlement and grand theft for allegedly living high on the hog on the tab of her clients.

Melanie Melim, a former escrow officer with Alliance Title Co., faces up to 21 years in prison for allegedly stealing more than $1 million from client escrow accounts funds that were considered to be guarded by a neutral third-party to the real estate transaction.

Instead, Melim used the funds to attend concerts and sporting events, take trips to Las Vegas and go on shopping sprees, authorities alleged.

As much as the allegations against Melim are personally troublesome, they also raise questions about the security of the escrow industry, a staple of the real estate business in California for more than a century.

But as the California escrow industry juggles confronting incidents such as these, waiting for the filing of a controversial rulemaking that would drastically cut its rates and pacing the floor of the state Capitol, one trade group has hinted that the industry may be gearing up for its toughest challenge yet.

An aligning of the stars
Members of the Escrow Institute of California (EIC), a trade group that represents the states licensed, independent escrow industry, are laying the groundwork for a cross-industry meeting of the minds to bring stability to an industry confounded by a confusing maze of uneven regulatory oversight.

The EIC has officially opened the door for formal discussion of a proposal to bring Californias escrow practitioners who, depending on their primary real estate business, must answer to one of five different state regulators under the umbrella of a comprehensive, uniform escrow law with a single regulator.

According to EIC President P.J. Garcia, its a system that could do much to solve the escrow industrys problems and relieve it of the burden of a regulatory structure that just doesnt make sense.

There is a broad array of bureaucracries that regulate escrow in California, to the extent that not even the regulators have an integral grasp of the picture, Garcia said. If that is the case, how can the consumer possibly understand it and know who to turn to? Its a question of enhancing consumer protection and streamlining government, both of which we think are good goals.

However, its an idea that has been tossed around before, without much agreement. Still, Garcia describes initial discussions among the various affected industries and regulators as encouraging.

Theres the sense that there is an aligning of the stars, she said. But the devil is in the details. What we have to do is build a consensus.

In the beginning
Independent escrow corporations have been providing closing services to California consumers in California since the late 1940s. The state Escrow Law, which was enacted in 1947, defines escrow providers as neutral, third-party agents for all principals in a real estate transaction.

The Escrow Law requires all corporations engaged in the escrow business as escrow agents to be licensed as independent escrow companies by the California Department of Corporations (DOC). However, in order to reach Californias more rural consumers, the state began to allow other real estate practitioners to provide escrow services to give consumers greater flexibility.

Thus, the state excluded the following groups from the licensure requirements of the Escrow Law:

Any person whose principal business is that of preparing abstracts or making searches of title that are used as a basis for the issuance of a policy of title insurance by a company doing business under any law of this state relating to insurance companies. These individuals are regulated by the Department of Insurance (DOI).

Any real estate broker licensed by the real estate commissioner while performing acts in the course of or incidental to a real estate transaction in which the broker is an agent or a party to the transaction and in which the broker is performing an act for which a real estate license is required. These individuals are regulated by the Department of Real Estate (DRE).

Any person doing business relating to banks, trust companies, building and loan or savings and loan associations. These individuals are regulated by either the DOC or the DRE.

Any person licensed to practice law in California who has a bona fide client attorney relationship with a principal in a real estate transaction and who is not actively engaged in the business of an escrow agent. These individuals are regulated by the state bar.
Garcia argued that while the current regulatory structure may have made sense when it was created, times have changed, and so should the system.

I think the market has changed over the last 60 years or so, particularly in the last 10 or 15 years, she said. Technology has made a lot of changes. Were no longer a predominantly rural state. Even the rural areas arent just rural anymore.

Moreover, escrow practitioners licensed by the DOC are subject to a higher regulatory standard than those who are exempt from the Escrow Law, Garcia said. DOC licensees undergo background checks and fingerprinting by the Department of Justice and are bonded by the Escrow Agents Fidelity Corp., while those who are exempt from the Escrow Law get the all-clear from their primary industry regulator.

Such uneven standards may be a factor contributing to incidents such as the one involving Melim, Garcia said.

Whenever something is reported, it is just reported as escrow. There is no distinction made as to who the regulator is, Garcia said. We all sort of get painted with the same broad brush, and that is not something we have been happy about.

Mike Belote, legislative advocate for the California Escrow Association (CEA), a trade group representing all escrow practitioners, agreed change is needed, but said the discussion has been simmering for 25 years without coming to a boiling point.

We think if you were creating an escrow regulation system from scratch, you wouldnt do it this way, Belote said. Everyone understands its a weird system we have now, but its been this way for over 50 years. The question is, how do you conform all of that if there is no political will to do that?

Winds of change
Its no secret that for more than a year, the DOI has been focused on implementing regulations to drastically reduce title insurance premiums and escrow rates by $1 billion annually. The DOI has been colorful in its depiction of the title insurance industry as a system rife with illegal kickbacks and gratuities, and the department was generous enough with its brush to paint the escrow industry as middlemen who only further drive up prices for consumers.

This included DOC licensees, who were baffled that they were lumped into a regulation proposed by a regulatory authority other than their own. The EIC spent most of last year fighting the proposal and standing beside the group was the California Land Title Association (CLTA), which linked arms with the EIC on many occasions, including a contentious day-long DOI hearing last August.

Bridges built and alliances formed, the EIC is hopeful it will be able to bring the CLTA, the California Association of Mortgage Brokers (CAMB) and the California Association of Realtors (CAR) together to hash out a proposal in time to introduce legislation in the 2008 session. While details are still sketchy at this point, Garcia said one suggestion is to bring all escrow providers under the DOCs jurisdiction.

Logistically speaking, all of the people who know escrow best are at the Department of Corporations, Garcia said. But again, the devils in the details. I couldnt give any commitment on how that might look in the end. Of course, it will have to be done collaboratively because if the other industries are flat-out opposed to it, it would obviously be a lot more difficult to do.

Craig Page, executive vice president and counsel of the CLTA, and Jack Williams, president of CAMBs executive board, both said their groups are open to the discussion, but as pen hasnt yet been put to paper, they declined to state formal opinions on the proposal. Garcia said the DOC and DOI have also been receptive to initial talks.

CAR and the DRE, which historically have been the most resistant to the idea, did not respond to a request for comment by press time.

The process of going through the Department of Insurance hearings really brought home to us once again that this is a very fractionated and confusing process, Garcia said. 2007 is paving the way. Were pleasantly surprised by the response we have received so far.

Shenzhen jewelry industry started from 1980s. Thanks to the influence of Hong Kong gold jewelry industry, Shenzhen gold jewelry industry leads in mainland China and has become the biggest gold jewelry manufacturing base and trade distribution center after 1990s. There are over one thousand gold jewelry enterprises in Shenzhen now, with about 110 thousand workers. Its annual manufacture and processing total value reach 43 billion yuan, which takes up 70% of the whole nations.
There are over a hundred million pieces of jewelry produced in Shenzhen in 2003; enterprises imported and exported about 42 tons gold with about one billion US dollars export amount, which takes up 30% of the whole nations. The total amount of jewelry industry in China is about 40 billion yuan.
Shenzhen and its surrounding area has approximately 800 jewellery manufacturers and supplies 70% to 80 % of the jewellery offered for sale in the domestic market in China. The Schenzen Special Economic Zone is now the largest jewellery manufacturing and wholesale centre supplying the domestic market in China , the gem-set gold jewellery manufacturing centre for the domestic market, the centre for platinum jewellery production and gemstone polishing Centre.
In fact, Shenzhen has now become the biggest jewelry producing center in China. It plays a very important role in China jewelry industry as industry core. With Shenzhen government listing Shenzhen jewelry industry as one of the six feature industries, Shenzhen is now creating an oasis of jewelry industry. 50 billion sales amount and 1 billion US dollars export amount was realized in 2005.
The September Shenzhen International Jewellery Fair is held in September every year at Shenzhen Convention & Exhibition Center. The fair is recognized by the attendants as the most professional, a truly international and the most influential jewellery trade fail in China. In 2004, the exhibition gathered over 600 exhibitors from 15 countries and areas, namely, HongKong, Taiwan area, Japan, Korea, Singapore, India, Sri Lanka, Italy, France, Israel and USA, as well as different provinces and cities in China. The exhibition area spanned over 30,000 square meters with a total of 1,200 booths, registering a 25% increase in size over that of year 2003. The Fair has gathered big and small suppliers and buyers under one roof, providing unlimited business opportunities to the industry as a whole.

Shatoujiao Gold Jewelry Zone
The city of Shenzhen borders Hong Kong, which is one of the 3 International gold jewelry accessory centers. Since the mid1990s, Hong Kong jewelers have gradually headed north to Shenzhen which now accounts for 80% of all of Chinas jewelry production. With its manufacturing scale and processing ability being the best in China, it has quickly become Chinas jewelry center for manufacturing, processing, trading.
Shatoujiao Free Trade Zone is the first one operated with International practice in China. It makes the jewelry industry a key supported and protected industry. There are over 30 major gold jewelry accessory manufacturers making it the most centralized district for the jewelry industry in Shenzhen with 60% of the production in the city. Shatoujiao Free Trade Zone is a distinguished area in accessory production and well known by jewelry wholesalers.

In May 2001, Shenzhen ART jewelry Co. Ltd investment of 100 million RMB saw the completion of the Shenzhen Jewelry Building. This building was set up in Shatouiao Free Trade Zone, With the south pearl Yantian Port to the east, the picturesque Wutong Mountain to the north and facing the Dapeng gulf to the south, the building is part of Shenzhens brightest eastern golden seashore. This seashore also includes MingSike Aircraft World, the Maisha seashore, Yantian Port and Shenzhen Sea World.

The 42,000 sq/m Gold Jewelry Building has 13 floors staging with processing, trading and service areas. It is a professional, multi-functional gold jewelry building. It is destined to become the center in the industry with its geographical advantage in the Shatoujiao Free Trade Zone, which attracts many famous Hong Kong jewelry brands such as Xie Ruilin, Hengfeng, QIngfengjin and Daimengde. Together with the capital and information rushing into this area, it makes Shatoujiao a centralized area of the gold industry.

ShuiBei International Jewelry Trade Center

Built in April, 2004, ShuiBei International Jewelry Trade Center is situated in the center of the Luohu Industrial area in the Jewelry city Shenzhen. It is a large professional jewelry market affiliated to Ya Nuo Xin groups.
This area has long been a production center for the jewelry industry in Shenzhen. Over 500 well-known jewelry corporations are gathering there, making it the top of the trade list for the jewelers at home and abroad. The government of Shenzhen & Luohu District have invested the amount of 190 millions to promote the area the biggest jewelry industry center in China.
Shuibei International Jewelry Trade Center work multifunctional as jewelry R&D, trade, tourism , promotion of the jewelry culture. Covering an operation area of over 1000 square meters, this center attracts over 100 corporations, among which, 27 are from abroad, 41 are at home, and the rest are the locals. The whole trade center is divided into over 10 operation parts, such as gold, platinum, inlay, silver, jade, pearl, precious stones, accessories, which fully meet the desire of their clients, that is, to buy everything in a place. So far, the transaction amount has reached 2.6 billion RMB, with 480 million for exporting. All these increase the regional taxes a lot and highly promote the economic development of Shenzhen.
The State Jewelry Quality Inspection and Supervision Center also comes into the trade center. It issues the authorized certificate for every product, which make the trade center to operate in a more standard way. Moreover, its cooperation with the media, such as China Gold, Previous Stone Weekly, China Precious Stone, Jewelry Business, Asian Jewelry, Taiwan Jewelry, Shenzhen Business, Hong Kong Business, Shenzhen TV, has brought an effective advertisement to jewelry culture. The trade center held jewelry fair successively in April & December of 2004, attracting the buyers and retailers from all corners of the world. The sales volume reach 300 million and 330 million separately, which created a sales miracle in the jewelry industry. All the above mentioned show us the great charm of Shuibei International Jewelry Trade Center and the jewelry culture.

Tommy China Business Consulting is a professional Jewelry sourcing agent With headquarters in Shenzhen. Having Built up good relationship with suppliers in Silver Jewelry, Ring, Necklace, Bracelets & Bangles, Gold Jewelry, Earrings, Pendants & Charms, Jewelry Sets, Pear Jewelry, Zinc Alloy Jewelry, Stainless Steel Jewelry, Loose Gemstone, Acrylic Jewelry, Body Jewelry, Key Chains, Copper Alloy Jewelry, We can serve as your Jewelry China Sourcing Agent, Jewelry China buying agent, Jewelry China Purchasing Agent ,providing comprehensive sourcing services to clients of all size interested in Jewelry sourcing, Jewelry Purchasing in China

Government Policies

Introduction

The Indian Textile Industry is looked upon as one of the largest industries in the world. The Ministry of Textiles in India has introduced several policies and schemes targeting the growth of this sector. Some of them listed here include:

Insight into Indias National Textile Policy

The National Textile Policy was devised bearing in mind the following objectives:

Boost the growth of the textile industry in India and nurture and fix its position in the global arena as a leading manufacturer and exporter of clothing.

To cut down imports of the domestic market.

To infuse competitive spirit by liberalizing stringent controls

Promoting Foreign Direct Investment and R&D in this sector

Focus on diversification and up gradation taking into account the environmental concerns.

Evolvement of a firm multi-fibre base; and developing the skills of the weavers and the craftsmen in the process.

The goals set to meet the following targets:

The Technology Up gradation Fund Scheme should be executed in a focused manner.

The garment industry should be eliminated from the list of the small scale industry sector.

The handloom industry should be prompted to flex its muscles and embark into foreign ventures to compete globally. The National Textile Policy is also working towards streamlining the availability and the productivity of quality raw materials. Due care is being taken to control the unstable prices. Special measures are being undertaken to raise the level of Indian silk to the International Standards.

Preamble

To know the purpose of the industry and to cater to peoples most basic requirements and promote sustained growth and thereby enhance the quality of living.

To recognize textile industry as an independent industry, from manufacturing raw materials to delivery of finished products, and its significant contribution to the economy as a whole.

To appreciate its vast potential for generating employment opportunities in noteworthy sectors like agriculture, organized sector, urban and rural areas, decentralized sector especially for women and differently abled.

To identify with the Textile Policy of 1985 which saw annual growth rate climb by 7.13 percent, textile exports by 13.32 percent and per capita availability of fabrics by 3.6 percent.

To evaluate the issues and problems confronted by the textile industry and strategies outlined by experts for this specific purpose.

To manufacture good quality clothing and cater to the demands of the people with reasonable prices.

Important areas

The government of India in an endeavor to promote textile industry laid emphasis on several areas, which are mentioned below:

Pioneering Marketing Strategies
Improvisation in technology
Alteration in Products
Quality Consciousness
Improvement in the quality of raw materials
Increase in productivity
Increase in exports
Finance Planning
Generation of Employment Opportunities
Human Resource Development

Pioneering Efforts

Government of India has laid down certain targets thatll help build and promote textile industry of India. To attain the aforesaid targets, dogged efforts are being made in the following direction

All manufacturing segments of textile industry will be governed by TUFS (Technology Up gradation Fund Scheme)

Enhance the quality and productivity of cotton. The aim is to enhance 50 percent productivity and sustain quality of international standards.

Set up the technology mission on jute with an objective to enhance cotton productivity of the country.

Inspire private organization to offer financial support to the textile industry.

Encourage private players to establish world class textile industry.

Persuade handloom industry for producing value added items.

Persuade private sectors build up world class textile industry and then embrace various textile processing units scattered in various parts of India.

Restore functions of the TRA(Textile Research Associations) and start giving importance to research works

Insight into the Government policy in terms of cotton and man-made fiber

One of the primary aims of the government policy is to improve the quality and the productivity of cotton and man-made fibre. Ministry of Agriculture, Ministry of Textiles and cotton growing regions are mainly responsible for achieving the target. .

Other important areas for textile industry

IT sector

The IT industry plays a paramount role when it comes to development of textile industry in India. The IT industry has laid down a sound commercial network for the textile industry to prosper and grow.

HRD sector

Optimum utilization of human resources helps build the textile industry to a large extent. Government of India has laid out some effective strategies to optimize its utilization in support of the textile industry.

Financial Planning

Government of India is also prompting talented Indian Designers and technologists of India to work for the Indian Textile Industry and is also planning to establish a venture capital fund in collaboration with financial establishments.

Indian Textile Acts

Some of the important acts with respect to the textile industry include:

Central Silk Board Act, 1948
The Textiles Committee Act, 1963
The Handlooms Act, 1985
Cotton Control Order, 1986

Under the Textile Undertaking Act, 1995 Government of India is trying its best to offer pertinent facilities so as to exploit the sector to its full potential and achieve the said target. The industry is presently growing at the rate of 9-10 percent and is estimated to grow at the rate of 16 percent in value. The clothing and manufacturing sector is expected to grow at the rate of 21 percent in value terms.

Impact of Globalization on Indian Textile Industry (Author: S.Hariharaputhiran, Associate Prof. Dept.of Mgt.Studies VSB Engineering College, Karur)

ABSTRACT

Impact of Globalization on Indian Industry started when the government opened the country’s markets to foreign investments in the early 1990s. Globalization of the Indian Industry took place in its various sectors such as steel, pharmaceutical, petroleum, chemical, textile, cement, retail, and BPO.

Globalization means the dismantling of trade barriers between nations and the integration of the nations economies through financial flow, trade in goods and services, and corporate investments between nations. Globalization has increased across the world in recent years due to the fast progress that has been made in the field of technology especially in communications and transport. The government of India made changes in its economic policy in 1991 by which it allowed direct foreign investments in the country. As a result of this, globalization of the Indian Industry took place on a major scale.

The various beneficial effects of globalization in Indian Industry are that it brought in huge amounts of foreign investments into the industry especially in the BPO, pharmaceutical, petroleum, and manufacturing industries. As huge amounts of foreign direct investments were coming to the Indian Industry, they boosted the Indian economy quite significantly. The benefits of the effects of globalization in the Indian Industry are that many foreign companies set up industries in India, especially in the pharmaceutical, BPO, petroleum, manufacturing, and chemical sectors and this helped to provide employment to many people in the country. This helped reduce the level of unemployment and poverty in the country. Also the benefit of the Effects of Globalization on Indian Industry are that the foreign companies brought in highly advanced technology with them and this helped to make the Indian Industry more technologically advanced. The various negative Effects of Globalization on Indian Industry are that it increased competition in the Indian market between the foreign companies and domestic companies. With the foreign goods being better than the Indian goods, the consumer preferred to buy the foreign goods. This reduced the amount of profit of the Indian Industry companies. This happened mainly in the pharmaceutical, manufacturing, chemical, and steel industries. The negative Effects of Globalization on Indian Industry are that with the coming of technology the number of labor required decreased and this resulted in many people being removed from their jobs. This happened mainly in the pharmaceutical, chemical, manufacturing, and cement industries.

The effects of globalization on Indian Industry have proved to be positive as well as negative. The government of India must try to make such economic policies with regard to Indian Industry’s Globalization that are beneficial and not harmful. Impact of Globalization on Indian Textile Industry The initiation and development of globalization and Indian textile industry took place simultaneously in the 1990s. The Indian textile industry, until the economic liberalization of Indian economy was predominantly an unorganized industry. The economic liberalization of Indian economy in the early 1990s led to stupendous growth of this Indian industry. The Indian textile industry is one of the largest textile industries in the world and India earns around 27% of the foreign exchange from exports of textiles and its related products. Further, globalization of India textile Industry has seen a paradigm increase in the ‘total industrial production’ factor of this Industry, which presently stands at 14%. Furthermore, the contribution of the Indian textile Industry towards the gross domestic product (GDP) of India is around 3% and the numbers are steadily increasing. The process of globalization and Indian textile industry development was the effect of rapid acceptance of ‘open market’ policy by the developing countries, much in the lines of the developed countries of the world. The initiation and its subsequent development of globalization and Indian textile industry respectively, was effected by the Ministry of Textiles under the Government of India. The aggressive policy that was undertaken for the rapid development of globalization and Indian textile industry were really praiseworthy. The most significant step amongst them was introduction of “The National Textile Policy 2000”. This policy envisaged to address the following issues –

Increased global competition in the post 2005 trade regime under WTO Huge import volume of cheap textiles from other Asian neighbors High production cost with respect to other Asian competitors Use of outdated manufacturing technology Poor supply chain management and huge transit cost Huge unorganized and decentralized sector Further, this policy also aims at increasing the foreign exchange earnings to the tune of US $ 50 billion by the end of the year 2010. It includes rational projections for the overall development and promotion of all the sectors involved directly or indirectly with the Indian textile industry. Furthermore, this policy also envisages the inclusion of the huge unorganized and decentralized Indian textile sector under the organized textile industry. This is because the unorganized textile manufacturing sector in India accounts for 76% of the total textile production. The globalization of the Indian textile sector was the cumulative effect of the following factors – Huge textile production capacity Efficient multi-fiber raw material manufacturing capacity Large pool of skilled and cheap work force Entrepreneurial skills Huge export potential Large domestic market Very low import content Flexible textile manufacturing systems The Indian textile industry consist of the following sectors – Man-made Fiber Filament Yarn Industry Cotton Textile Industry Jute Industry Silk and Silk Textile Industry Wool & Woolen Industry Power loom Sector An approximate number of textile manufacturing companies operating in India are given below – Badges, emblems ribbons and allied products – 175 Bed covers, curtains, cushions and other draperies – 2471 Carpets and rugs – 270 Embroidery and embroidered garments, made ups and furnishing – 848 Fabrics and textiles – 3013 Yarns and threads – 1201 Jute products – 337 Kids apparel and garments -1052 Ladies apparel and garments – 2932 Men’s’ apparel and garments – 2936 Miscellaneous garments, textile and leather accessories – 1658 Yarns and threads – 1201 Wool, woolen garments, blankets and accessories – 468 Textile chemicals, dyeing and finishing chemicals – 239 The overall growth of the Indian textile industry can be attributed to the globalization. Today, the Indian textile industry employs around 35 million personnel directly and it accounts for 21% of the total employment generated in the economy. Globalization of the Indian textile industry has also facilitated introduction of modern and efficient manufacturing machineries and techniques in the Indian textile sector. Thus, much of India’s economic growth is largely dependent on textile manufacturing and exports. Impact of globalisation of textile industry on traditional weaving operations: It is significant to note that in spite of growing competitions and pressure caused by a modern textile sector and shortage/irregular availability of raw materials, almost all the weaver families surveyed have still been continuing their weaving operations to a limited scale. Nearly 26.5% of the surveyed women reported that the weaving activities of the family has seriously been affected due to competitive pressure of modern textile industry. About 58% of the women reported that their weaving operation has moderately been affected. The effect has been more sever for those women working under the co-operative societies and production centres. Majority (98%) of the women reported that modern textile items are available at relatively cheaper prices affecting market for handloom products. Nearly 87% of women respondents reported that growing consumer preference and test, in recent times, towards variety of modern fabrics has severely affected the demand for handloom items. Textile products being manufactured by organized spinning mills offer variety of design and fabrics and attract more number of consumers, squeezing the market size for traditional handloom products, as reported by 58% of the women respondents. The growing consumer preference for modern textile products is directly attributed to increasing investment made by the organized sector on advertisement and promotion. The opinion of the surveyed women respondents call for modernization and technological upgradation of the traditional handloom industry in order to retain its unique position and to achieve economy in competitive environment. Provision of sustainable supply of good quality of raw materials can greatly aid in smoothening the operational crisis in handloom sector. There has been steady decline of the functional performance of the weaver co-operative societies and production centres as a result of growing competition caused by the organised modern textile industries. Nearly 66.7% and 17.5% of the women respondents alleged that the functioning of their societies and production centres have severely and moderately been affected due to the competitive situation caused by the modern textile industry. The competitive situation caused by the modern textile industry has resulted in complete stoppage and stagnation of the societies, decreased sales volume, low and irregular supply of raw materials, irregularity of wage payment, reduction of members, weakening of the financial status, stoppage of bank credit loan etc. Nearly 52.5% of the respondents under co-operative sector reported that the function of the co-operative societies and production centres has drastically reduced to very low level. Even several societies and production centres have stopped working. The strength of membership has gradually been reduced in several societies and centres, as reported by 15.8% of the surveyed women. Sales volume of several societies has considerably been reduced. In spite of stiff competition and resulting weakening of their traditional business, almost all the surveyed weaver families are still continuing their traditional business, with much hardship. At present, nearly 69.4% of the surveyed families reported having one working loom with them. Hardly 2.9% of them reported the status of their loom as non-functioning condition. Nearly 27.7% of the surveyed weaver families reported possessing two working looms. It is noticed that maximum proportion (72.5%) of the weaver families is operating their looms 46-75 hours in week. The actual hours of utilisation of looms by surveyed families fall far behind the actual available hours per week. The low level of utilisation of loom is directly attributed to inadequate and irregular supply of raw materials, low demand/sales of the handloom products and associated financial problems faced by weavers and cooperative societies as well. The reasons for low utilisation looms mainly relate to stagnation of demand, shortage of raw materials, shortage of loom accessories etc. Excessive delay in receiving the raw materials through co-operative societies and production centres has greatly reduced the level of utilisation of their weaving assets as reported by 12.3% of the surveyed families. Only 26% of the surveyed weaver families reported that there is no scope of further increasing the level of operation, but remaining 74% of them expressed their hope for further increasing the level of operation. Nearly half of the surveyed families expressed their need for modernizing their loom either by replacement or by repairing their old looms. Most of the weaver families are conversant with their existing types of looms and hence needed replacement of similar type. About 40% of the weaver families, who expressed their need for modernisation, felt the need for repairing their old looms to make it more productive and functional. Around 43% of weaver families expressed the need for adding few more number of looms to their existing set up. All the weaver families opting for modernisation reported that such modernisation could result in increase in the processing of yarns and improving their level of operation. Nearly 17.5% of the weaver families who opted for modernization reported that such modernisation would contribute to improving the quality of their handloom products. It is noticed that the average quantity of yarns being processed per weaver family per month, in the co-operative sector, in the past was 4.9 kg. per month which has marginally come down to 3.9 kg. per month per household, in the current period, due to decline in sales of handloom products. In case of families under non-co-operative sector, the average consumption of yarn per family per month has marginally declined from 4.9 kg. (past) to 4.1 kg. in the current period. The average monthly consumption of dyes per household has marginally declined from 583 gm. (past) to 517 gm. in the current period, showing a decline of 11.3%. In keeping with this stagnating market for handloom products in the face of increasing competition posed by modern textile sector, demand for yarns per month per household shows decline from 5.1 kg. (past) to 4.7 kg. in the current period. As a whole, the monthly requirement of yarn in the current period varies in the range of 2 kg. to 12 kg. per household. The wide variation of requirement as well as consumption of yarns and dyes by different households reflects the great deal of variation of time and efforts needed for different type of handloom products, quality design and highly crafted fabrics needing relatively more time and processing efforts. As a whole, the actual monthly requirement of yarns per households is nearly 17.5% higher over what they receive and process, in the current period. The average monthly demand of dyes per household show a decline from 591 gm. to 520 gm. (a decline of 12 %) in the current period. Among the beneficiaries procuring yarns, the extent of dependance on co-operative societies as sources of supply has greatly decreased and most of the beneficiaries are now depending on local market for procuring yarns. While 54% of the weaver families were depending on co-operative societies as the source of supply of yarn. Currently only 9% of them are depending on the societies for this purpose. It is important to note that majority (89%) of the weaver families reported depending upon local market for procuring yarns for their weaving operation, while only 46% of them were depending on the local source of supply in the past years. The co-operative societies, which are earlier playing an important role for supplying raw material for traditional weaving, have been relegated to a very miserable position in this context. The scarcity of funds and operational weakness of most of the co-operative societies has been responsible for decreased dependence of the weaver communities on them for procuring raw materials. About 53% of the weaver families reported facing shortage of yarns and dyes required for processing their handloom products, at present. However, 47% of the surveyed families reported that they did not face any shortage of yarns and dyes. The percentage of weaver families reporting shortage of yarns and dyes relatively belongs more to the co-operative sector as compared to those not supported by co-operative sector. Nearly 40.5% of weaver families, who reported shortage of yarns and dyes to meet their production requirement, stated that their weaving operation has moderately been affected due to such shortage, at present. The weaver co-operative societies have failed to ensure steady supply of yarns and dyes to its members to maintain continuity in handloom operation. Nearly 50.5% of the surveyed families expressed their dissatisfaction on the role and performance of the co-operative societies in the context of arranging and supplying required quantity of yarns and dyes to its weaver members, at present. The major reasons of dissatisfaction of the weaver families on the services of co-operative societies mainly pertain to irregularity in supply, inadequate of quantity of supply and poor quality goods delivered. About 56.1% of the weaver families, who expressed dissatisfaction on the services of the societies, reported that supply of yarns and dyes by the societies is frequently irregular. Among the various kinds of woven goods, it is interesting to note that almost all the households engaged in weaving produces sarees. Only small number of families produces other items like dhotty, bedsheets, cloth pices, towels etc. The average number of pieces of sarees produced in a month per weaver household is nearly 8. The average number pieces of sarees produced per weaver households have come down form 10 (past) to 8, at present. Similarly, there has been reduction in monthly production of different category of woven products, as reported by surveyed weaver families. The average value of production of saree per household per month shows a decline from Rs.4,300/- (past) to Rs. 4,000/- at present. The handloom products having its own superb and distinct position in textile sector enjoy a wide spread market in both rural and urban areas. The competitive pressure exerted by modern textile products has not created any perceptible change in the acceptance and the choice of customer segment for handloom products. Due to growing deterioration of functional performance of the weaver co-operative societies and production centres, majority of the weaver community has switched over to direct marketing. The average monthly sale per household of handloom products in terms of pieces through co-operative societies has declined from 15 (past) to 3, at present. On the other hand, the average monthly sales of different handloom goods per month per household have increased from 7 (past) to 13 (current), through open market. In terms of change in value of woven products sold through co-operative societies, it is found that the average value of monthly sale per household has decreased from Rs. 5,000/- (past) to Rs. 1500/- at present. Conclusion : With liberalization of Indian economy, the modern textile industry has posed serious threat to the traditional handloom industry. Rapid technological upgradation and automation in modern textile industry has made high volume of production of a variety of quality synthetic and cotton textile items, enjoying competitive advantage over the handloom products. The handloom industry, both in co-operative and private sector, with its vast rural work force especially of weaver communities is confronted with challenge of competitive economic environment. The weakening position of handloom sector in the wake of global competition of textile industry has posed a serious threat to the socioeconomic life of the traditional weaver communities, in general and to the socioeconomic status of rural women of these weaver communities in particular.

Key word: Textile industry, Modern Textile Products, Traditional weaving operations.

The Sunglasses Stores Industry has already begun its recovery from the economic storm. According to IBISWorld, the nations largest publisher of industry research, improving consumer sentiment and favourable demographics have helped bolster sales, benefiting companies like Luxottica Group and National Vision Inc. Revenue in the industry is expected to grow over the next five years which will be supported by higher projected household incomes and an improved sense of financial stability. For this reason, industry research firm IBISWorld has added a report on the Sunglasses Stores Industry to its growing Apparel & Accessories Stores report collection

Sales of sunglasses during the past five years have been particularly sensitive to drops in consumer confidence, as sunglasses are more of an optional purchase than prescription eye glasses. However, IBISWorld forecasts the sunglasses stores industry to rebound supported by higher projected household incomes and an improved sense of financial stability over the next five years.

Growth in the sunglasses stores industry will be driven by increasing awareness of the useful benefits and the style appeal of these accessories. Prior to the recession of 2008 and 2009, strong economic growth and easy access to credit enabled consumers to purchase sunglasses as a fashion accessory. The sunglasses market is typically distinguished by price and function, and classified into premium and value segments. According to IBISWorld analyst, Nikoleta Panteva, the premium segment has grown faster than the value segment in the five years to 2011. The fashion aspect also contributes to shorter replacement cycles and volatile sales, as styles and consumers’ financial capacity to spend change frequently.

To provide convenience for consumers, as well as to create brand awareness, sunglass stores aim to be located in high shopping traffic areas or near ophthalmic specialists. The industry remains fragmented through small retail chains and independent locations. Italian firm Luxottica Group and National Vision Inc. are the industry’s largest operators. Luxottica is a vertically integrated network of manufacturing plants, distribution operations and retail outlets. In the US Luxottica Group operates mainly through its Sunglass Hut and Oakley O locations.

Breadth and depth of product selection is also an important consideration. An appropriate product mix should tailor to match the demographic composition of the store’s market. Stores located in regions or states with a relatively higher income earning clientele should stock branded as well as private label frames, lenses, accessories and sunglasses. Additionally, stores are increasingly focusing on integrating services, such as eye exams, frame fitting, and purchasing advice to adapt to consumers’ demands for one-stop shopping.