Financial Daily from THE HINDU group of publications
Thursday, Apr 29, 2004
Financial Daily from THE HINDU group of publications Thursday, Apr 29, 2004 |
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Industry & Economy
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Textiles Textile exports may wear thin post-quota regime K.R.Srivats
New Delhi , April 28 THE country's textile and clothing exports may register a decline in value terms during 2005 — the first year of a world without quotas, according to Mr Arvind Shinghal, Managing Director, KSA Technopak. He is also of the view that the country is unlikely to reap immediate gains from the phase-out of textile quotas from January 1. "The decline in value may happen even if there is a volume growth in our exports. The main reason is the price decompression that would happen once the quotas are lifted. Buyers will also not be willing to pay for the quota premium portion in the prices. Then there is also the issue of rupee appreciation against the dollar", Mr Singhal told Business Line here on the sidelines of a seminar on `Indian apparel and textile exports', organised by DHL Worldwide on the eve of the Lakme India Fashion Week. He said that India might not actually benefit from quota phase-out even five years after January 1. "We have started to invest. But it's a bit late in the day. In the next three-to-four years, buyers would have identified competitive suppliers. It would be very difficult for us to make a mark once such suppliers are already identified." Mr Asutosh Padhi, Principal, McKinsey & Company, however, had a different viewpoint on the issue. "Despite India being slow in the game, it's not too late. Reforms must be continued and accelerated as the window of opportunity is closing. It is hard to predict the way the year 2005 will go'', he said.
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