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Is reviewing textile export target enough?
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Bikky Khosla | 06 May, 2008
Just a couple of days back Union Textiles Minister Shankarsinh Vaghela had hinted at the government's plan to review the target of $ 50 billion exports by 2010-11 for textiles, in the wake of rupee appreciation and global economic slowdown impacting the sector's growth.
However it's anybody's guess whether reviewing the export target is enough; it most certainly is not. Market trends suggest that the rupee most likely will remain volatile in the months to come. So do we review the targets again and again?
There has to be a long-term solution to this. Cutting transaction costs, reducing procedural delays, and improving the infrastructure on a war-footing will help. Exporters need to cut flab and streamline operations. Cutting on the production costs will mean they can sell goods at more competitive prices.
However, being cost-effective is just half the battle won. Exporters today need to focus on what customers need. To succeed, a flexible and dynamic approach to markets is what will enable exporters get over cyclical turns in currency values. They need to update themselves on the requirements of their customers, and also on what their competitors are doing.
India must export what the world needs, not simply what it cares to produce. As Minister of State for Commerce, Jairam Ramesh, had pointed out once, "What's the use of producing cost-effective khadi if the world does not want it?"
Yes, lowering export targets and achieving them will give us a false satisfaction, but is that what we want? Let's leave targets for the babus. Come what may, exporters need to take the market realities head on - after all it's about business and profit...targets are always secondary.
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REVIVING EXPORT TARGETS I.E. GARMENTS SECTOR
RAJESH SHARMA | Wed May 7 10:24:21 2008
Yes targets if not upgraded or not fiddled then whats the use of our BIG BABUS AND MINISTRIES which are feeding them at the cost of honest tax payers?
One gimmick which is played by one and all concerned is cost cutting, i say why cost cutting why not increasing the investment, our banks are boasting of SURPLUS RESERVES, and 6TH PAY COMMISSION IS endorsing this, though its yet to be implemented , what a vague term cost cutting, means what? Consume less in simple words, cut down, on inputs and initiatives what are we thinking a virtual reverse , or thinking like AMERICANS and behaving like JEWS? OR OUR MARWARIS?
What business development these babus are doing or these ministries are doing, they have failed every year to pronounce the EXIM POLICY this is the benchmark of their efficiency and every year millions of USD ARE being paid by the importer as retention charges for containers around MARCH? And who is to pay for this THE BUSINESS MAN, AND We tell him to cut the cost..... remove people from employment, reduce on inputs , compromise on quality or do some trade tricks can anyone tell what is cost cutting, and what is removal of waste instead of UPGRADING THE TARGETS say for TEXTILE SECTOR OR ANY OTHER SECTOR if they are not upgraded then also they will go on the way they are after all we have 7 to 8 % inflation and our babus know this very well and sipping coffee in AC CHAMBERS THEY DO NOT KNOW what are the hardships a business person undergoes even our ministers ?
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Re: REVIVING EXPORT TARGETS I.E. GARMENTS SECTOR
Adrian Akau | Thu May 8 06:41:57 2008
"India must export what the world needs, not simply what it cares to produce."
If India expects to have marketable products, it must follow product demand. A product has little value unless there is a need for it and the need is what creates the demand.
The second characteristic to consider with oil now reaching USD 123/barrel is that transport costs will be increasing. This means that the value of shipped items must be worthy of shipment. In other words, sales income must exceed the cost of manufacturing plus transport. This leads to a setting up of priorities for export. There will be a point at which some items can no longer be exported unless prices are raised to compensate for total costs. The number of items sold is critical for profit making and is based upon the demand which in turn is based upon need for the product.
adrianakau2aol.com
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