Does the global value chain theory accurately reflect the current nature of the textile industry?

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Does the global value chain theory accurately reflect the current nature of the textile industry?

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Does the global value chain theory accurately reflect the current nature of the textile industry?

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International business is increasingly getting organized in terms of the global value chain, especially in the dimensions of international production and trade. Global value chain represents the different stages through which production processes are executed in different countries (Gereffi et al., 2005). One of the driving factors attributable to the restructuring of international companies’ operations through offshoring and outsourcing activities is globalization (De Marchi et al., 2017). The textile industry is one of the most vital goods-producing sectors. The industry generates significantly high revenue and employs many people. The heavy dependence of the industry for clothing as a basic human needs, and nexus with the fashion industry demonstrates how pervasive the industry has become.

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