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

UK retail firms urge Hammond to ease business rates burden

Textiles | On 20th Nov 2017

UK retail firms urge Hammond to ease business rates burden

Top British retail company CEOs have urged UK finance minister...

L-R: Surya Ajay Agarwal (Director - Donear), Vikram Mahaldar (MD - OCM) & Rahul Rajendra Agarwal (Director - Donear)

Textiles | On 20th Nov 2017

Promoters of Donear Group acquire OCM Woolen Mills

The promoters of Mumbai-based Donear Group have announced the...

Courtesy: Cornell

Textiles | On 20th Nov 2017

Cornell’s tech allows customisation of woven fabrics

Cornell Professor Steve Marschner and Rhode Island School of Design...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Nitesh Mittal

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

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Erik Sy

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mohammad Hassan
Biax Fiberfilm

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

Marcel Alberts
Eurofibers

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

Rupa Sood and Sharan Apparao
Nayaab

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

November 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
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

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
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

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
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

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
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


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