ASSOCHAM says Yuan revaluation to help India attain $ 25bn textile exports
23 Jul '05
3 min read
India has its traditional cost advantages of homegrown cotton and low cost labour, it needs to sharpen its competitive edge by lowering the cost of operations through efficient use of production inputs and scale operations. Technology would play a lead role in this sector, which would improve quality and productivity levels. Players in this industry should turn into high technology mode to reap the benefits of scale operations and quality. Foreign investments coupled with foreign technology transfer would help the industry to turn into high-tech mode.
Internationally, said the ASSOCHAM Chief trading in textile and garment sector is concentrated in the hands of large retail firms. Majority of them are looking for few vendors with bulk orders and hence opting for vertically integrated companies. Thus, there is need for integrating the operations in India also, from spinning to garment making, to gain their attention. This would also bring down the turn around time and improve quality. Indian players should also improve upon their soft skills, viz., design capabilities, textile technology, management and negotiating skills.
Logistics and supply chain would also play a crucial role as timely delivery would be an important requirement for success in international trade. The logistics and supply chain management of Indian textile firms are relatively weak and needs improvement and efficiency. China has already created a world-class export infrastructure. Given the volume of projections for exports by India, it may be necessary to create additional export infrastructure, especially investment for modernization of ports. In addition, India needs to invest for creating brand equity, supply chain management and apparel industry education.
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