An Exploratory Research on Problematic Factors in Textile Industry & Consequences of Decrease in Export of Textile Products: Especially Economic Development Retention

Abstract

Definitely we know that now the economic growth is  in peril position & our GDP is going negative which is now 23.67%. Economic development is an pushup of the capacity of any economy to produce goods & services. This exploratory research is primary data-based research  &  mainly has been done to determine problematic factors in Textile Industry & consequences of decrease in export of textile products inreference to economic development retention  in Haryana (India). These Data has been collected mainly with the help of the designed questionnaire & done from various established  Textile Industry of Haryana (India). Main exploratory Factor analysis is applied for data analysis by IBM SPSS 20 to ascertain the determinants of economic development & textile industry. The study identified three factors alike Financial aspects, Marketing aspects, administrative aspects which significantly influence economic development in India. Result of this study has huge significance in today’s highly competitive Textile Industry. Hence, textile industry should improve their services & production quality offered by them to enhance Economy growth.