Home / Knowledge / News / Textiles / 2007, a tumultuous year for textile industry – a review
2007, a tumultuous year for textile industry – a review
13
Jun '08
Although in broader context, rupee appreciation last year, had been a sign of stronger Indian economy, on the flip side, it had some negative impact as well.

The year 2007 had been quite ruthless for textile industry, one of the highest foreign exchange earners for the country. The exporters had to struggle hard in order to avoid the brunt of rupee appreciation.

Even the garment or home textile sector also could not remain untouched from the undesirable effects of over 9 percent rise of rupee against Dollar.

Fibre2fashion captured reviews of different association and companies regarding export condition last year.

Discussing about the troubles faced by the exporters, last year, Mr A Sakthivel, President, Tirupur Exporters Association says, “In the year 2007, the unprecedented appreciation of rupee against dollar had jolted the exporters and in Tirupur, the knitwear garment exports have declined by 10 percent. For the first time in the history of Tirupur garment exports, many units have under utilized their capacity and there were job losses to the tune of 10,000 people. We feel the real pinch has spilled over to the year 2008 also, since in 2007 most of the orders executed were already committed in year 2006.

“The rise in interest rates also played a negative role in the growth of exports. The impact of declined exports had compelled the garment exporters to reorient their strategies in expansion of their units' capacity and modernization of machinery. Moreover, there was no off take under TUF Scheme. It is to be noted that SME exporters were not well aware of the Financial Instruments available to hedge their currency risks. So, by and large, I can say, 2007 was a tumultuous year for the garment industry.”


Must ReadView All

Chinese firm sets up textile-garment chain in Vietnam

Apparel/Garments | On 13th Dec 2017

Chinese firm sets up textile-garment chain in Vietnam

Worldon Vietnam Co. Ltd under the Chinese Shenzhou Group is likely to ...

Courtesy: SATO Global Solutions

Information Technology | On 13th Dec 2017

Sensor networks improve inventory management

Sensor networks like radio frequency identification (RFID) and smart...

CMAI hails review of FTP as 'progressive package'

Apparel/Garments | On 13th Dec 2017

CMAI hails review of FTP as 'progressive package'

The Clothing Manufacturers' Association of India (CMAI) has hailed...

Interviews View All

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Paolo Ocleppo
Sandvik Hyperion

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Sonam & Paras Modi
SVA

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search