Good sales ahead of Christmas have brought cheer to Indian textile and apparel exporters, who are expecting at least 15 percent more sales this year compared to last year in spite of the ongoing EU debt crisis.
“The sales this year are much higher than the last year. Last year, the whole world was coming out of recession. This year the scenario is much better and we are having around 15-20 percent higher sales,” Mr. Pradeep Mukherjee, President Global Sales and Marketing, Himatsingka Seide, a leading textile exporter, told fibre2fashion.
“There is a general impact of what is happening in the EU but that applies to everybody in the industry and is not specific to any one exporter. There are small pockets where we see the impact, but that is in small volumes,” he adds.
Mr. Sudhir Dhingra, Chairman and Managing Director, Orient Craft Ltd., India's leading export house, informed, “Our sales have grown this year again. The good thing is clothing is one item which after food takes priority in the western world. This is due to their habits and consumption patterns which are very unlike the Indian consumers.”
“Providing good quality products, great fashion at competitive prices is the greatest challenge today which we as an industry need to understand. Our sales continue to grow irrespective of changing market conditions. I am expecting the year to close at least 15-17 percent higher compared to previous year,” he adds.
“The EU crisis has put pressure in terms of pricing, quicker delivery, shorter lead times, getting better designs on the table, etc. But, we have not lost sales with any European or American customer. Our sales are either stable or increasing and we are expanding by setting up new factories,” he asserts.
The textile and apparel exporters are expecting the trend to continue into next year. “We are working with the best brands. We have over Rs. 1 billion worth of orders on hand and our order books are full now. So our manufacturing capacities will be full till February,” reveals Mr. S Surya Narayanan, MD of Chennai-based Celebrity Fashions, one of India's leading garment exporters.
“The rupee depreciation will help us and all the exporters but most of us have entered in a forward contract, so we will not get much benefit in the current quarter and the next quarter. From March, we will be benefited by the current exchange rate,” he adds.
Fibre2fashion News Desk - India
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