By K G Narendranath, ECONOMIC TIMES Bureau DELHI, 5 Nov 2008 Much before the index of industrial production (IIP) showed a big decline (IIP grew just 1.3% in August against 10.9% a year ago and 7.4% in the previous month), the production data from the textile industry indicated a slump. IIP had risen 8.1% in 2007-08 but during the year, major textile groups reported dismal growth figures—wool , silk and manmade fibre textiles grew just 4.2%, cotton textiles 4.1% and textile products (which includes garments), a more tepid 3.3%. As per textile ministry data, spun yarn output increased 4% in…
(Written in September 2008) Over the last few years India has had one of the highest GDP growth rates, across the world, and consistently. In the last two years GDP growth is estimated to have been 9.6 per cent (2006-07) and 9 per cent (2007-08). A combination of private and public investments in recent years, as well as steady liberalisation of regulations, has created a situation that is unique in India’s history as an independent country, where business growth has lead to individual prosperity which is, in turn, leading to explosive growth of further business opportunities. Although India’s per capita…
If you’re like me, then at any given point of time you have a vague idea about what is in your refrigerator, but not quite. That must why we end up buying stuff that duplicates what is already in the fridge. Here’s an example of what that translates into for me: A second bottle of chilly sauce, when the first one is only half-way through Three semi-consumed jars of jams and preserves, none of which look anywhere near finishing for the next couple of months Three packs of juice because one came “free” with two others (and all open because…
Differentiation is the key to surviving and thriving in tough times. In the lifestyle products sector (apparel, footwear, home, etc.) a big difference is the product design itself. More than ever, it is vital for Indian companies - brands, suppliers as well as retailers - to develop their own design and product development team, in the shortest time. The team, including designers, merchandisers, buyers, sourcing people, textile and apparel manufacturers - must sharpen their skills in reading the market trends and in developing new products that can make their brands or retail stores stand apart in the customer's eyes. To…
I recently had the opportunity of window shopping with some friends visiting India and it was interesting to note how visitors to India from different continents react to the retail prices of the products of the international brands available in the Indian market. Friends from Europe (specifically from the UK, which is a relatively expensive country to live in) were pleasantly surprised to find the prices of some of the products of international brands such as L’Oreal, Tommy Hilfiger, Marks & Spencer and Levi Strauss cheaper and they extended their list of things to buy from India at the cost…
Geopolitical friction has again sparked renewed concerns over inflation and rising input costs for FMCG companies as @itmeansjustice @whysnavi write. @devangshu commented.
