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US calling - opportune time for Indian exporters
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Bikky Khosla | 29 Apr, 2008
With China saddled with increasing labour costs and weakening of the dollar leading to a negative growth in the sector this year, it is the right time for Indian textiles and clothing exporters to take advantage of the situation.
Since last year India's textiles and clothing exporters who faced negative growth in the US market, have now posted a 0.53 percent growth in January and a growth of 8.26 percent in January-February.
On the other hand, China, whose textiles and clothing exports to the US were worth $32.3 billion in 2007 against India's exports of $5.1 billion, has registered a negative growth of -2.57 percent in exports to the US in January-February 2008.
However, India's progress cannot be taken for granted, as two nations - Vietnam and Bangladesh - are now giving India tough competition in this sector, particularly Vietnam.
According to estimates, Vietnam is expected to earn over $2.6 billion from exporting garments and textiles, mainly to the United States, the European Union, and Japan, in the first four months of this year, posting a year-on-year rise of 24.5 percent.
Though the Indian counterpart recorded a growth of 8.26 percent, this is meagre compared to Vietnam's achievement. Vietnam reaped nearly $7.8 billion from exporting garments and textiles in 2007, up 34.5 percent against 2006. It earned $4.5 billion from shipping the products to the United States last year. Under a national plan on developing the local industry, Vietnam's garment and textile industry will make total production value of $14.8 billion in 2010, some $22.5 billion in 2015, and $31 billion in 2020. The country targets garment export turnovers of $25 billion in 2020.
With Vietnam breathing down India's neck, Indian textiles and clothing producers and suppliers need to focus on acquiring advanced equipment and technology, launch more models with finer designs, seek more material supplies, and improve the supply chain management.
Cutting on its production cost will be the only way out to beat competition and bail the industry out of the doldrums created by the rising rupee against the dollar. If we are unable to take advantage of this opportunity, we will have only ourselves to blame.
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Get your Global Bankcard to become Competitive
Gina Hortance | Wed May 14 22:39:28 2008
http://www.ibotrade.com
Please know that your cards will only be obtained through your local banks, money transfer services and cooperatives LICENSED by IBOTrade to distribute our card.
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Help us get banking partners in your country so that you can obtain your GLOBAL COMMERCE CARD.
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Re: Get your Global Bankcard to become Competitive
saket patawari | Thu May 22 06:57:06 2008
we are interested in marketing your products in india,
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Re: Re: Get your Global Bankcard to become Competitive
Gina Hortance | Mon Jul 14 15:48:08 2008
Great! Please contact me at hortance@ibotrade.com
There was a mistake in the previously posted email address.
For more info: Go to: http://www.ibotrade.com
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cutting production costs to compete internationaly
pawan garg | Sat May 3 13:20:40 2008
one mazor factor in production is energy whether it state electricity or by genrator in india we have not continuous power supply so we have to rely on genrator sets which costs more than rs 10/-per unit which is more than double of state electricity , so if govt.wants the growth of industry it must to ensure quality electric supply at reasonable rates than we can think of giving competition to china and other countries as they are getting very low rate electric supply
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Re: cutting production costs to compete internationaly
B.N.MULE | Wed May 7 13:26:20 2008
Presently we have only one alternative to reduce cost by using various modern management tools and techniques
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K Bagga | Wed Apr 30 12:26:37 2008
If production costs are further reduced, the low paid workers who are already living in extreme poverty, should not be further penalised by even lower wages. The developing countries should introduce a minimum wage. What is going on is no better than slavery and it is appalling that this is allowed to continue. Economics and global competition forces pressure onto countries to reduce manufacturing costs, but how far will this go? Perhaps countries like India should also concentrate on making quality affordable goods for its own people whilst at the same time paying them to have a half-decent standard of living.
Good Time form Indian Exporters
Kenneth Ndu Ogbondah | Wed Apr 30 03:49:06 2008
Yes. all things being Equal it is a good time for Idian Exporters. What is very surprising is the Vietnam gain in the US markets. I have Personally, out of curiousity bought a shirt labelled made in Vietnam.It is interesting.
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Re: Good Time form Indian Exporters
vinayak vasudeva | Wed May 7 06:46:01 2008
why u are making false statements .i do not think any good time in exports at present .do u know that people who are manuplating the invoices having good time in india.
for small and medium indutry facing lot of heat.
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Re: Re: Good Time form Indian Exporters
ketan rana | Sun May 25 04:30:53 2008
we r mfg products is a rise products name is mamra and poha.
and we whole sell merchant in gold and dimond,
we instrested in export of our products
kindlly u help about these
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 13 Aug, 2022 |
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