Abstract

Innovation has been the most important factor for the economic development of the textile and fashion market. In the recent years, the continuous advancement of technology combined with the advanced techniques, together, has been the most important component of the long-term economic growth in any field of fashion and textile. Textile and fashion designing have always needed creativity according to the consumer’s interest and thus the market demand, which has been very aptly augmented by the technology era. Having stated that the textile and fashion industry is one of the most significant contributors of our economic growth and development, this study is an attempt to identify the innovative and technological entrepreneurial strategies that are being used in this Industry, to make the products more marketable and profitable.

In this paper, the researchers is try to find out why advance technological innovation skills are considered as a major factor in economic growth and develops concern on some of the most important features of innovation in the highly industrialized economies of the Indian Textile and Fashion Market. It also try to find out the impact of technological innovations in the Textile and Fashion Industries and how it is transforming the Fashion business for the growth of the market economy.

Keywords: Textile; Economy; Information communication techniques; Creative economy; Market growth.