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Human capital is one of the most important and influential asset in this century. This capital should be recognized by the industries of course they are doing it. In textile industry intelligent human capital is important one as this industry mainly driven by the foreign imported machineries, technological backup, even testing apparatuses. What is the reason behind this status? Is this is the failure of the institutes or industries?.

Setting up an research and development team and product diversification is important one as our economy is getting strengthen. In this blog I would like to discuss various issues right from the zero point.  The critical need for the industry is to entitle managerial  executives with  knowledge and skills to analysis the global economic scenario and current research areas to promote the products.

 

With the influence of America whole world is getting as the copy of the American economic policies. Due to the change in economic conditions many peoples are now enjoying the taste of Mc Donald’s dinner. But many Indians are far away from the taste of Burger and Pizza, their search is for one complete square meals for a day. People of India are far away  from the economic reforms and the latest technologies.

The industry has to review many of its old plans and operating principles. They have to invest huge capital for the research and development – which we haven’t done yet. Our system runs only the quality control department not the R&D. secondly the industry institute interaction – which our Indian textile industries are limiting up to the level of providing samples for the research work. This is not the way to promote the research, however many industries may not able to carry out the research with their facilities, they have to tie up with the institute to promote themselves. Even highly developed industries are not considering over the research, they are doing research on the market and profit not over the product / materials. We have to take a view over the pre and post cold war era, the period which provided many of the technologies to the world; majority of the technologies were developed by the joint venture of institute and industries. See in a practical aspect, in a single industry there may be few minds to work for the problem but in institute you can find plenty of young minds who can percept beyond the spectrum of the industry. (of course to some extend.) Thirdly the ways to meet the crisis. As the dollar value decreased those who are dealing with the dollar they might be facing huge profit losses  (not true exactly, as they wont share the profit with the employees but if loss occurs, employees will be losing their monetary benefits – as we are like caterpillar; yes caterpillar never enjoys the silk but it keep on spinning.) they have to think innovative to approach this crisis. Apart from the estimating the dollar for the least value, industry has to view with the broader spectrum, they have to look expenditures for energy, water, opportunities to invest in foreign. Industries can try the natural energy sources, recycling of water, effective utilization of water resources or can promote the awareness about water resource up keeping. In the mean time industry can thing about the foreign opportunity to invest / start their industry there. Finally the government has to think about keeping the stable currency as well as balanced budget, of course we are successfully doing this, but apart from this, country has to monitor over the balance of international trade with in the various industries.

 

Apart from all, industry has to secure / capture young brilliant minds with their industry, which they never imagine to do and even they wont do. Why iam saying this means many of our young professionals are changing their field after their graduation. The main reason for this is the low wages. Yes that’s true, who  will work with dedication for 10$ per day? Is it right salary for the intelligent kids who are having big dreams to achieve?, is it possible for them to eat two diets while their counterparts are enjoying Pizza and Burger? No not at all. I would like to disclose about one of my friend, who developed a unique software for the fabric design which possess many good features which are not available with the common available package, but when he approached for the job he came to know that he has to work for 7$ per day. He just collapsed and left this textile field and joined in softwares and earning  25$ per day. This is the scenario.  

 

what is the future plan for the industry and professional if this situation gets worst?. However each industry has its own consultant or adviser but what happen for the small scale industries?. What kind of initiative should have done by the Indian ministries? Industry really need real research activity;

Which they haven’t carried out so far. This research should focus in  a multi direction with the dream to bring back the pride which many of our textile professionals lost in the past years. Let us bring the world attention by doing some thing different and make our professionals to feel proud like their counterparts. 

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