Showing posts with label Textile Stock Lot. Show all posts
Showing posts with label Textile Stock Lot. Show all posts

Wednesday, 17 February 2016

Textile Hub Proposed in Bengal

Eastern India, especially West Bengal is now looking at expanding its textile industries, and in fact becoming a textile hub for all we know. As a major step towards this goal, the state government has launched an initiative, with the objective of opening up somewhere over a dozen textile parks.

Monday, 31 August 2015

Evolution of Garment/Textile Industry

Evolution of Indian Textile

The evolution of the textile as well as the garment industry in India, if nothing, has been quite dramatic. In fact the Indian textile industry is hugely diverse much like the nation itself.  As strong as this industry is, it derives this innate vigour from its wide range of fibres or yarns, right from the natural ones like cotton, wool, jute and silk, to the synthetic ones of the likes of polyester, nylon, acrylic and viscose. While the sector was no less than thriving under the British Rule, it was only after independence that the Indian textile industry shot up like never before. Thanks to the 5-years plans, the sector saw a steep rise, of the magnitude of 22 million in production in 1982, just double of what it was in 1951. It further registered an increase and went up to 26 million, by the end of the year 1989.

Monday, 13 July 2015

Importance of an Effective Supply Chain in Textile Industry

Supply Chain in Indian Textile Industry

With the tag of world’s largest population holding country, it is more than just obvious for India’s textile industry to have a significant contribution in the nation’s GDP. With a stature that big this industry has also come to have a celebrated presence world-over. This being said, the textile industry of India, however, is not as organized as one would assume it to be. Though the presence of intensely structured entities in the market cannot be denied, but the fact of the matter is that the better part of this industry is still ruled by small-scale enterprises, which are either consumed in creating handicrafts or engaged in manufacturing of apparels. Needless to state, it is this nature of textile industry that somehow cripples the existence of an effective supply chain.

Thursday, 28 May 2015

An Order to Remember

Textile Industrytestimonials

It was mid-October,  A time for festivals in India.  A time to embrace new hopes for the coming year. And yes, for all the businessmen and traders, a time to earn business and make unparalleled profits. At least, that is what Mr. Rakesh Trivedi must have thought.  But, God had some other plans, and not so pleasing ones. Well, let’s hear it straight from the man!

“It was through a very good friend”, recalls Mr. Trivedi. He said, “It was on 11th Oct, 2011, I can recall because well how can one forget such a day! My friend barged into my office with this huge smile on his face. He gleamed with excitement when he told me about his relative, Mr. Sahu who lived in the States. To complete one of his organisation’s orders, Mr. Sahu was required to acquire a whopping quantity of three 40’ HQ of Tapestry Christmas Cushion Covers. My friend had suggested Mr. Sahu that I can provide him with the material at a reasonable rate. Mr. Sahu agreed to negotiate & eventually place order.”  Adds Mr. Trivedi, “To be frank, I thought the idea was preposterous and I cannot strike such a deal, especially with no excess funds for backing. However, my friend was insistent, and ultimately we closed the deal! As excited as I was about the order, I knew it was something that would take up the better part of my capital and would leave me almost cashless. However, I moved forward towards completing the order.  It took me a lot of taxing days and sleepless nights before I could get the order ready.”

He continued, “It was 25th of November, when the phone rang. It was my friend at the other end, but this time the perkiness in his voice was missing. He sounded grim. Turned out, the organisation was shut down, and the consignment was no longer required. I was dumbstruck. Though there was still time for Christmas, but for an order this huge, there was no possibility of finding a doting customer. I was right. There was no customer. Not in 2011. Not in the coming three years. My finances were in a bad shape. As guilty as my friend was feeling, one fine day he gathered some courage and came to me. He suggested a website called, where many other home textile suppliers like I had published there stock. He insisted that I visit the site and put up the details of my stock up there. Although reluctantly, I agreed. I got in touch with the team, and did as required. And there can be no words, whatsoever, to explain my surprise and joy, when my entire stock of homefurnishing textiles got sold out within a span of just 9 days! Yes, that’s true, I sold it to 2 different traders and that too at approximately my production price! Well God, or let’s say the universe, works in mysterious ways. That’s all I can say. I can never thank my stars, or for that matter enough!”

How the Government Policy Has Impacted Indian Export Industry – Key Updates

Indian export Industry

In the past years, especially in 2013-14, Foreign Trade hasn't been the strength of the Indian Economy. The worst hit was the merchandise exports, all thanks to the petroleum products, which played spoilsport in this steady downfall. Not just this, a lot of sectors that have been the major contributors to India's total export basket have shown poor performance. These sectors include gems and jewellery, chemicals, engineering goods, electronic goods.

However, not all is gloomy. In fact, the World Economic Outlook published by the IMF and the World Bank forecasts that India's economy may rise to 7.5 percent in 2015 as opposed to 7.2 percent in 2014. Exchange rate dynamics and geopolitical risks will be playing a major role in the same, and hence, it is extremely important for India to exhibit reasonable growth in exports.

Much to the delight of the small scale and medium scale exporters and stock lot suppliers, the Foreign Trade Policy for the term 2015-2020 is focuses on improving the ease of doing business. In addition, the policy lays down a clear road map for exports for the coming years. Here, the government has particularly laid emphasis on trade facilitation. Its plan of action includes cutting down the time and transaction costs required in exports by moving towards digitization and paperless working in a 24 X 7 environment. This is not all. In an effort to ease the entire process for merchandise and textile suppliers in India, a total of five schemes have been merged into one single scheme namely Merchandise Export from India Scheme. This will not only help to streamline the process for merchandise exports as well as service exports, but will also be more in line with the WTO rules.

Moreover, the new FTP aims at integrating India's export strategy with the flagship 'Make in India' programme. It seeks to promote the indigenous capital goods production by reducing Export Obligation for domestic procurement under EPCG scheme, by almost 15 percent. Also, it is proposed to give a higher level of rewards to products with high domestic content and value addition.

Meanwhile, it has been reported the government is set to reintroduce the interest subvention scheme, which lapsed in April last year, soon for some labour intensive sectors. This will be a welcome change, especially for the suppliers with surplus stock. Even in the earlier terms, this scheme has proved its mettle by being extremely beneficial for the small and medium enterprises engaged in exports. The FTP, therefore, rightly, wants our exporters to get prepared to run on competitive advantage instead of expecting tariff sops to come their way.

While the government is taking steps to bring about more than just a positive change for the Exporters, it is up to the small and medium scale enterprises to step up and work in tandem with the newly introduced schemes to extract the maximum possible benefits.

Article Originally Posted On: Article Base

Friday, 10 April 2015

Outlook for Indian Textile Industry in 2015 – Business Shifting from China

For several years, India has enjoyed the position of being the second largest producer exporter of textiles in the world. According to reports, the total Indian textile industry, including domestic & exports, is expected to reach $223 billion by 2021, rising from $89 billions in 2011. Statistics reveal that the country has overtaken countries such as Italy, Germany, and Bangladesh, to emerge as the second largest textile exporter, the largest being China. The good news is that due to rising labor costs, China is gradually losing its competitive edge. There are also several other factors contributing to the downfall of China’s textile exports, such as, appreciating currency value, rising material & energy costs, and a high focus on the domestic market. The decline in China’s market share in textiles provides an opportunity for India to excel in this sector. Further, the abundant availability of raw materials, huge domestic market, improved economic conditions, and Government initiatives such as “Make In India” are some of the advantages that fuel the solid performance of the Indian textile industry for export.

Friday, 27 March 2015

From Bricks and Mortar Stores to Online Clicks

There is nothing more satisfying than holding a product in your hand, feeling the texture, and viewing the minutest details before proceeding to purchase the item. A traditional brick and mortar store enables shoppers to get the product experience, interact with a variety of items, and make an informed decision of what they are about to buy. Nevertheless, there has been an unprecedented change in customer buying habits in the last decade, with more and more people opting for online purchases of their favorite products.

Friday, 20 March 2015

From Dead-Stock To A Profit Deal – Mr. Chandran’s Story

On 14th February, 2014, Mr. Chandran was a happy man.

You know why?

He had just received a big order for kitchen linen – to the tune of 40 ‘HQ quantity worth more than 50 lakhs! This was the big deal that would rocket him to the big league, show his contemporaries that his business had mettle. He would do whatever it took for him to ensure that he delivered quality products on time, which would in-turn boost his goodwill in the market. In such a high note, Chandran set out to start his way towards fulfilling the order. Right from taking stock of the inventory, delegating tasks to suitable staff members, planning ahead for the production,  warehousing, transportation and delivery –Chandran did not leave any stone unturned to deliver nothing but the best.