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

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

Neel Sawhney
One Friday

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

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Rupa Sood and Sharan Apparao
Nayaab

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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



X