The textile industry in Russia has an ethical tradition and commands respect in the global market. Though the Russian textile industry faced challenges in the nineties, it is now emerging as a competitive industry capable of foreign investment. Ivanovo city is rich in the production of cotton textiles. The region is a potential market for foreign investment. The Ivanovo city has an enormous workforce of 50,000 people in the textile industry. It satisfies nearly 25% of the regional budget.
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