In what ways has competition affected workers, Indian exporters and foreign MNCs in the garment industry?

Here are the impacts of competition in the garment industry on workers, Indian exporters, and foreign Multinational Corporations (MNCs) presented in points:

Workers:
– Job Conditions: Competition can lead to low wages and poor working conditions to reduce production costs.
– Job Security: Workers might face job insecurity due to cost-cutting measures aimed at staying competitive.
– Potential Benefits: Some companies might improve wages or working conditions to attract skilled workers in a competitive market.

Indian Exporters:
– Price Pressure: Tough competition often forces Indian exporters to lower prices, affecting their profits.
– Quality and Innovation: To stand out, exporters focus on better quality and innovative designs.
– Market Challenges: Smaller exporters might struggle to enter or expand in global markets due to intense competition.

Foreign MNCs:
– Market Share Competition: MNCs compete for a larger market share, both among themselves and with local companies.
– Technology and Efficiency: To stay competitive, MNCs invest in technology and efficient production methods.
– Supply Chain Concerns: Pressure for lower costs might affect worker conditions in MNCs’ supplier factories.

Competition drives improvements but also poses challenges like lower wages, pricing pressures, and supply chain issues that need balancing with fair practices.