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

What Does The 2015 Budget Mean For The Textile Industry

The first full term 2015 Financial Budget presented by the Modi Government for the financial year FY-16 is a really disappointing one, especially for the textiles sector. Many of the promises have not been kept and the lackluster budget didn’t allocate much funds to alleviate the woes of the textile industry.

Finance Minister Mr. Arun Jaitley has decided to boost infrastructure projects in this budget, which was a severe blow to the textile manufacturers since they expected some tax cuts in order to obtain a bias-free market. The saddest part is that there was no discernable mention of the Textile industry in the budget.

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.