Home / Knowledge / News / Textiles / Shipping goods without insurance creates insecurity - Fabric Plus
Shipping goods without insurance creates insecurity - Fabric Plus
15
Sep '09
There is news of apparel exporters being denied export credit facilities by the credit insurance companies and this is happening at a time when clothing shipments from India are in a negative trend. This is leading to a panic among textile and clothing exporters who would not like to take the risk of exporting without adequate risk cover.

To get to the depth of this development Fibre2fashion spoke to the various stake holders within the sector. We began by speaking to Mr Dilip Barua, Director of the Assam based Fabric Plus Pvt Ltd and a exporter of silk stoles. Fabric Plus recently set up the first of its kind eri-silk spinning plant in Assam. Mr Barua said, “Pre-risk of export without insurance cover can not be ignored. There are many exporters operating without letter of credit and they depend on credit insurance as a protection”.

“These exporters feel insecure when exporting goods without insurance and avoid exporting rather than losing money incase of defaults, which ultimately leads to problems for all the suppliers in the supply chain and also can lead to joblessness as the manufacturer may choose to close operations”, he said.

He concluded by saying that, “One will agree that the scheme of credit insurance should not be abused; but at the same time insurance agencies cannot put a brake. Rather they should judiciously treat the cases and allow the genuine deals so that a potential industry like garments export can play its role in development of the industrial sector and earn foreign exchange for the country”.



Fibre2fashion News Desk - India


Must ReadView All

Courtesy: The White House

Textiles | On 21st May 2018

China, US put trade war on hold

Following weeks of uncertainty over imposition and counter-imposition ...

Equate posts best Q12018 results since inception

Textiles | On 21st May 2018

Equate posts best Q12018 results since inception

Equate Group's first quarter results for 2018 are the best since its...

Over 60% retailers already have IoT platforms: IDC

Apparel/Garments | On 21st May 2018

Over 60% retailers already have IoT platforms: IDC

Retail organisations are adopting IoT platforms and more than 60 per...

Interviews View All

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Top executives
Textile industry, India

The event should be organised every year

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Marcel Alberts
Eurofibers

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

Jay Ramrakhiani
Occasions Elegance Wear

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search