Innovation, Investment, and Emerging Opportunities in Today’s Textile and Apparel Value Chain
Summary of note 96: innovation, investment, and emerging opportunities in today’s textile and apparel value chain textile and apparel manufacturing is a critical creator of formalized jobs, a well-known path to industrialization, and an enabler of...
| Main Authors: | , , |
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| Format: | Brief |
| Language: | English |
| Published: |
International Finance Corporation, Washington, DC
2021
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/523771611293916385/Innovation-Investment-and-Emerging-Opportunities-in-Today-s-Textile-and-Apparel-Value-Chain http://hdl.handle.net/10986/35051 |
| Summary: | Summary of note 96: innovation,
investment, and emerging opportunities in today’s textile
and apparel value chain textile and apparel manufacturing is
a critical creator of formalized jobs, a well-known path to
industrialization, and an enabler of value chain
relationships that modernize economies and make them more
complex. Today, value chains that support the textile and
apparel industries are rapidly evolving. They are
integrating new technologies, embracing workplace
innovations, adopting sustainable efficiencies, and
inventing products and processes to meet the changing
demands of global consumers and markets. This pattern has
largely been repeating itself since the First Industrial
Revolution more than 250 years ago. At the most fundamental
level of the textile and apparel value chain, countries with
an abundance of low wage, minimally skilled workers enter
the industry to do the heavy manual labor and, with time and
learned experience, build skills that enable them to
graduate to the production of complex products that help
them integrate into more important value chains and steadily
advance their standards of living. |
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