India Textile Industry is one of the leading textile industries in the world. Though was predominantly unorganized industry even a few years back, but the scenario started changing after the economic liberalization of Indian economy in 1991. The opening up of economy gave the much-needed thrust to the Indian textile industry, which has now successfully become one of the largest in the world.

ANB addresses various issues by providing the comprehensive capabilities required for effective compliance management. These capabilities are essential whether you need to address a single complex mandate or you’re developing a full-scale enterprise regulatory risk framework. ANB solutions enable you to consistently track mandates, unify policy management across the business, perform well-coordinated impact assessments; automate targeted awareness training programs, create well-defined action plans, and efficiently execute other core tasks associated with effective legal and regulatory compliance. 

Key current challenges

• High reliance on Senior Management for Operational decision making – lack of formalized delegation of authorities and responsibilities
• People dependent operations than process dependent
• Decentralized processes resulting into non standard processes being followed
• Absence of formal Management Information System (MIS)
• Poor response time for supply of information on adhoc Senior Management requirements
• Non standard pay structures, absence of formal Key Performance Indicators (KPI), monitoring and appraisal mechanism
• Absence of formal mechanism for tracking implementation of various internal committee recommendations and senior management instructions