BHAVESH PATEL ROLL NO.15 Entrepreneurship development and Research methodology.

1) Business opportunities that exist in the market.

As we all know,there are three basic needs of human beings i.e.food,clothing and shelter.Thus the demand for products produced by these fooding and clothing industries would never go out.The food industry would be related with the restaurents,hotels and other food chains.Business opportunities related to shelter would be activities concerning dealing in land i.e. real estate business,construction of buildings,etc and clothing would concern itself with the textile industry.After studying all the business opportunities,i think that clothing industry has a great opportunity for conducting business.Man will demand cloth till he lives and thus the demand for such textile products would always remain high.Thus the textile industry provides ample scope for business.The setting up of a textile looms factory is what i think

is very profitable.Such a business would consist of producing yarn and basic white cloth from the yarn. Cotton threads are woven into fabric on looms. Looms are machines that work at high speeds to interlace horizontal and vertical sets of threads to form a flat cloth. A set of parallel warp (vertical) threads are held taut by the loom. Filling or weft (horizontal) threads are held by bobbins that are placed in a shuttle. The loom lifts the warp threads up and down in sequence, creating a space between them for the shuttle to pass through at high speeds. This action weaves the two sets of threads together at right angles and creates a strong fabric. There are three main types of weave: plain, satin and twill. The different weave structures are created by changing the sequence of raising and lowering the warp threads. Different types of cotton cloth are made by changing the density of the weave, the colors of thread used for warp and weft, and the number of threads used per inch of fabric.Other types of machines make knit fabrics from cotton yarns.

2) Description of the industry.

Indian Textile Industry is one of the leading textile industries in the world. Though was predominantly unorganized industry even a few years back, but the scenario started changing after the economic liberalization of Indian economy in 1991. The opening up of economy gave the much-needed thrust to the Indian textile industry, which has now successfully become one of the largest in the world.The Indian textile industry has a significant presence in the economy as well as in the international textile economy. Its contribution to the Indian economy is manifested in terms of its contribution to the industrial production, employment generation and foreign exchange earnings. It contributes 20 percent of industrial production, 9 percent of excise collections, 18 percent of employment in the industrial sector, nearly 20 percent to the countrys total export earning and 4 percent to the Gross Domestic Product.The Textile industry occupies an important place in the Economy of the country because of its contribution to the industrial output, employment generation and foreign exchange earnings. The textile industry encompasses a range of industrial units, which use a wide variety of natural and synthetic fibres to produce fabrics. The textile industry can be broadly classified into two categories, the organized mill sector and the unorganized mill sector. Considering the significance and contribution of textile sector in national economy, initiative and efforts are being made to take urgent and adequate steps

to attract investment and encourage wide spread development and growth in this sector.

3) What is the competition and how will u differ from the competition.
The competition in textile industry is stiff but there is still ample scope of business development in the industry.The major players in the textile industry are given below. Arvind Mills Arvind Mills is one of the major and fully vertically integrated composite mills player in India. It has large production in denim, shirting and knitted garments. It is now adding value by manufacturing denim apparel. Its sales are around US$ 300 million. Raymonds Raymonds has the large, diversified integrated business model, which is spread across the value chain from yarn to retail. It is specialized in Diversified woolen textiles. It already supplies to some US retailers.

It also looking to also expanding denim capacity and to become second largest denim player in India. Its presence in retail will be big positive in future. Its annual sales are around US$ 300 millions Reliance Textiles: Reliance Textiles is one of the major Textile Company that is in business of fully integrated manmade fiber. It has capacity of more than 6 million tones per year. It has joint venture partners like, DuPont, Stone & Webster, Sinco (Italy) etc. Vardhaman Spinning Vardhman deals in spinning, weaving and processing segment of the industry. It is planning to double its fabric processing capacity to 50 million meters. It is an approved supplier to global retailers like GaP, Target and Tommy Hilfiger. Its sales are little over US$ 120 millions Welspun India (Manufactures terry towels) Century Textiles (Composite mill, cotton & Man-made) \The above listed companies form a very important part of the indian textile industry.I would differentiate myself from the competition by effective management of the working of the company.I would rather focus on producing more quantity of cloth without compromising on the quality of cloth.This will be done by proper supervising of the working of the labour by minimising the wastage of their time.Also proper selling of the

cloth produced is important.I would focus on providing the deliveries on right time to the consumers and thus achieve success in the business.

4) Resources required to start the business.

The resources required to start the textile business would include firstly capital.Good amount of capital investment is required to be invested to start such a business for setting up the factory as well as purchasing the loom machines.The second most important resource required would be labour.In the absence of labour such a factory would not be able to produce any cloth.One worker would be required for 5 loom machines.The requirement of labour can then be calculated according to the number of the machines.The place for setting up of the factory would need to be decided and also the machines would have to be acquired to start the production activity.