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Considering the global economic scenario, how is the export market for ladies fashion garments faring?
Considering the global
economic scenario, it is very sad to say that the Union Budget 2012-13 has
not given any relief to the exporters and they are even more panelized by way
of service taxes and custom duties on embellishments and other taxes increased.
We can see that the garment
export market is falling down day by day, and, this year specially, it is very
crucial for exporters to survive, and to get the expenses of factories recovered
from the garments exports.
But, garments exports are
showing continuous downward trend and it is due to very bad situation in USA
and Europe both. Also, the wages and expenses are increased a lot for Indian
exporters, which is why they are not able to compete with Bangladesh, Pakistan and
SriLanka, thus making the market situation tougher and the buyers are also preferring
to these countries.
Indian garment exporters
are facing a crucial time, and they will now have to move from exports market
to Indian domestic market, which is a very growing market. Moreover, fashion
garments are becoming the requirements of general public. Purchasing power of Indians
is growing, and they want to lead a stylish and fashionable life.
Hence, I feel that the growing
Indian economy is the alternative market for exporters.
Besides the Indian
domestic market, there are a few Asian markets which are still strong
and can emerge as new business opportunities like Saudi Arabia, UAE, Abu Dhabi,
Muscat, and so on. Other than these, Mexico, Turkey and Russian markets
are also growing slowly.
However, there is still a
lack of technical advancement in garment export field, and we need to be more
systematic, more efficient and more economical by adopting new machineries and
new technologies.
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Published on: 30/03/2012
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.