India has the potential to promote itself as a global brand in apparels, Mark Neuman, counsellor for International Trade and Global Strategies for Limited Brands and MAST Industries, said in a presentation made by him in the US. |
The presentation was made at an international apparel industry meet in the US last fortnight. |
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India has, however, been outperformed by China in apparel exports by nearly $5.3 billion in 2003. While China's share of exports to the US, in value terms, is about 12 per cent, India's is a mere 3 per cent. China's growth rate is also about 350 per cent higher. |
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According to Neuman, as it stands, even Vietnam is fast outperforming India with its growth surpassing India's total volume in two years. Its exports to the US grew by 45 per cent of all of India's exports in 2002, and 74 per cent in 2003. |
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Citing the fashion retail sector in the US as an example, he said consolidation, with fewer and better suppliers in the sector is the key to the future. |
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He stressed on global production for servicing the global market. He said this will help suppliers to hedge their risk. |
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To further penetrate the US market, he advocated that the sector should keep the cost and capacity in mind along with ontime delivery, the quality, product development capability, efficiency, labour force standards, infrastructure, safety and security and specialisation. |
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He also said seamless delivery of the product from the suppliers to the stores, strategies to avoid disruption in the supply, and the anticipation of hot spots should be kept in mind. |
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To reposition the India brand, granting of business visas should be accelerated, he said. He also advocated a "green" line at the airport for investors, zero tolerance for child labour and the need to generate positive stories. |
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Finally, he quoted the success story of India establishing itself as a global brand in outsourcing, and said that the same needs to be done for the apparel sector as well. |
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