China is a major competitor for India, and it has become one of the top three merchandise exporters in the world.
Speaking about how India lags behind this Asian textile giant, Vinod Jhawar, Managing Director, Dhanlaxmi Fabrics Ltd, says, "India comes second only to China because of higher costs and duties. Thus, back-duty be introduced. Presently, traders are only paying tax and not gaining anything; it this back-duty that will help make up for their margins. Power and water costs in India are also very high. Besides, skilled labour is not as easily available. Most of the talented labour is family-oriented and looking for white collar jobs. So, most get into merchandising and desk-jobs that offer other work-place comforts."
Sandeep Sharma, CEO Indian Acrylic Ltd further stresses that "China deals in complete value chain, starting from yarn to finished goods. Thus, it derives maximum from raw materials, whereas, India has recently started taking this segment seriously. Another advantage for China is its advanced logistic and infrastructural facilities."
Pushparaj Kole, CEO of RM Mohite Textiles Ltd (RMMTL), pitches in, "Industry is growing rapidly now that the Quotas for EU and US have been eliminated. Besides, TUFS and the emerging new market opportunities have provided the necessary boost to exports."
However, S T Kulkarni, Director and President Futura Polyesters Ltd, stands to differ. He says, "India does not lack in technology but in machinery. Using smart and better equipments will help India reach the top in the next 4-5 years."
marketing@alchempro.com
