Investing in technology key to newer markets

04 Jan '08

2 min read

With changing market trends and increasing competition from international rivals, there is a growing need among the Indian exporters to reinvent policies conducive to export promotion and overall growth of the country's economy. Future planning and consumer satisfaction are the need of the hour and it is only through this that the upcoming exporters can gain experience and take firmer footsteps.

Mr Mukund Choudhary of Spentex told Fibre2fashion, “Spentex does not have any direct export to US but it still aims to maintain the company culture of 'customer delight' through whatever transaction taking place.”

Further, Mr Mukund also asserted that China was way behind in competition when it comes to yarns. In fact, it still imports yarn from India.

Mr Sandeep Sharma from Indian Acrylics also confided on the issue saying, “Our exports to US market is marginal as freight is very high. We are therefore not affected by weakening US economy."

When asked about competition from China, Mr Sandeep said “Yuan, the Chinese currency is getting stronger day by day. By 2008 it is expected to get fully rationalized. That will make Chinese exports less viable as compared to current situation.”

Indian Acrylics believes in investing in technology to make newer value added products and find newer export markets, said Mr Sharma.

Talking about suggestions for the upcoming breed of exporters, Mr Selvaraj from Sangamitra said “Most textile units have come up as garment manufacturers. As both business units require different kinds of skills, planning and labor, venturing into exports companies should be well planned with proper information and discipline.”

Discussing about the future plans, Mr Bansal of Pratibha Syntex Ltd said that the company holds positive outlook against competition from China and that future plans area already being worked out for smoother operations.

Fibre2fashion News Desk-India

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