Home / Knowledge / News / Apparel/Garments / Weaker rupee to give impetus to garment exports
Weaker rupee to give impetus to garment exports
24
Nov '08
The current Rupee depreciation may not be appreciated by Indian economists, but it has definitely proved encouraging for Sri Lankan garment exporters.

Experts are of the opinion, that local garment factories should grab the opportunity and use Indian fabrics to manufacture apparel for export and take maximum benefit from the Indian rupee depreciation.

Speaking at the opening ceremony of AISEX and FASE apparel industry exhibitions recently, Mr Ajith Dias, Chairman, Joint Apparel Association Forum (JAAF) said, “The Indian rupee has depreciated by nearly 20 percent, but the Sri Lankan rupee is still very strong. So this will attract interest from Sri Lankan importers as there is a possibility of using this difference in exchange rates to benefit both.”

Sri Lankan garment industry, each year, imports fabrics worth around US $1 billion, from countries like Hong Kong. However, due to quality differences, local importers avoid Indian cotton. “Sri Lankan garment manufacturers have now moved into the medium to high-end markets. So the fabrics supplied to Sri Lankan apparel exporters need to be of a greater standard than what is generally supplied to Indian apparel exporters. But there is the possibility of companies in Sri Lanka and in India cooperating for mutual benefits,” stressed Mr Dias.

An estimate from JAAF shows that raw materials like fabrics, account for up to 60 percent of manufacturing costs of garments in Sri Lanka. If importers now shift to Indian fabrics, it will help local garment producers remain competitive in the face of increasing input costs and maintain their position in the international market.

Must ReadView All

Courtesy: Walmart

Apparel/Garments | On 23rd Mar 2017

Walmart acquires ModCloth

Walmart has acquired the assets and operations of ModCloth, one of...

Textiles | On 23rd Mar 2017

SIMA advises mills to avoid panic buying of cotton

The Southern India Mills' Association (SIMA) is advising mills to...

Apparel/Garments | On 23rd Mar 2017

Tulip Retail, True Fit personalise in-store shopping

Tulip Retail, a mobile application platform built exclusively for...

Interviews View All

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search