Gifts & Crafts Industry News

SMEs - help yourself to succeed    < 2014-02-13 >

It seems nothing has changed for the Small and Medium Enterprises (SMEs). Surveys, studies came and went, but SMEs are still languishing in the alleys of darkness. Indian SMEs have opportunities for higher growth and exports, through linking with global supply chains. However these opportunities require structured policies, sustained learning, innovation and competence building by the locally-owned SMEs. Despite successive government's initiatives, it

US calling - opportune time for Indian exporters    < 2014-02-13 >

With China saddled with increasing labour costs and weakening of the dollar leading to a negative growth in the sector this year, it is the right time for Indian textiles and clothing exporters to take advantage of the situation. Since last year India's textiles and clothing exporters who faced negative growth in the US market, have  now posted a 0.53 percent growth in January and a growth of 8.26 percent in January-

Is reviewing the textile export target enough?    < 2014-02-13 >

Just a couple of days back Union Textiles Minister Shankarsinh Vaghela had hinted at the government's plan to review the target of $ 50 billion exports by 2010-11 for textiles, in the wake of rupee appreciation and global economic slowdown impacting the sector's growth. However it's anybody's guess whether reviewing the export target is enough; it most certainly is not. Market trends suggest that the rupee most likely

No financial aid for SMEs - blame our outdated bankruptcy system!    < 2014-02-13 >

The unwillingness of banks to finance Small and Medium Enterprises (SMEs) saying they are risky, is actually also due to the dysfunctional insolvency and bankruptcy system in India that makes banks think twice before lending to SMEs. It's not always that an entrepreneur succeeds in what he or she does. And it's quite understandable. Entrepreneurs who fail to learn from their first mistakes are more successful at the next

Depreciating rupee brings back smiles to exporters    < 2014-02-13 >

After nearly a year of torment and loss due to the appreciating rupee against the dollar, the balance seems to have turned in favour of the exporters. Since April 30 the rupee has dipped and has lost value against the dollar by about 3 percent in the last 10 days finally giving some reason to exporters to rejoice. And it couldn't have come at a better time. May-June is the time when dealers across the world, especially in

Politics of numbers - who cares about the nuclear deal!    < 2014-02-13 >

As the UPA government faces the vote of trust in Parliament on July 22 and all political parties now concentrating on numbers which will decide the fate of the Indo-US nuclear deal, Indian industry on the other hand, has been left in the lurch. After years of resistance and bluff calls in almost all economic reforms, Communists are now gathering muscle (tying-up with Mayawati's Bahujan Samaj Party) to fight the UPA government.

Rice export ban - nothing but a political gimmick!    < 2014-02-13 >

Today India, the world's second-biggest rice producer after China, has a selective ban on export of rice - strange but true! The government justifies this ban as a step to tame runaway inflation. However, with the general elections scheduled to be held by May 2009, the move, I feel, is more of a political gimmick than an economic decision. Commerce Secretary G.K.

WTO needs to consider sentiments of SMEs    < 2014-02-13 >

Despite developing nations asking the developed countries to do away with trade-distorting subsidies and make steep duty cuts on products with high tariffs, all appeals seem to have fallen on deaf ears. And now the anti-concentration clause in the non-agricultural market access (NAMA) draft stands to hurt the small and medium enterprises (SMEs) real hard. Since flexibility is the key to protect our SMEs, the clause that restrict

SME census - active co-operation of MSMEs need of the hour    < 2014-02-13 >

What struck me most is the fact that even the best government initiatives end up as failures if we don't participate in its execution. The ongoing census of MSMEs that started on May 12 is a case in point, with most enterprises unaware that such a census is underway. Now, the benefits of the census are very impressive. The census will go a long way to not only gauge how MSMEs are functioning, but also to help the autho

Saluting the resilient spirit of India Industry    < 2014-02-13 >

Even as terror attacks try to derail the country's economic growth, we need to show resilience and not cow down to these cowardly activities that need to condemned. The recent serial blasts in Bengaluru and Ahmedabad indicate that terrorists are targeting the nerve centres of the country in their failed bid to cripple the economy. I feel the blasts will not have any impact on the business and

India needs to play a major role in SAARC    < 2014-02-13 >

The recently concluded SAARC Summit in Colombo had a greater importance than being just an annual academic affair. With the failure of WTO talks, regional trade assumes greater importance for a country like India which is one of South Asia's biggest economies. The SAARC member states have rightly pledged to allow trade in more goods under South Asia Free Trade Agreement (SAFTA). This will enhance trade among the membe

Exports rise as exporters focus on new markets    < 2014-02-13 >

April proved to be a good month for the Indian economy in general and the export community in particular as the country recorded a commendable export growth with shipments jumping 31.5 percent to $14.4 billion from a year earlier. The only discomforting fact that came from these figures was India's trade deficit which increased by more than $3 billion in April from a year ago.

SMEs falter - no need to panic yet!    < 2014-02-13 >

As SMEs particularly the smaller enterprises are feeling the heat of slowdown, is it panic time again? I think not! The recession is a global phenomenon and the effects are likely to be seen in the profits of SMEs in the months to come. This may even stay for a year or so. Having said that we have scope to negate these effects and carry on. The slowdown in the sector though more psychological, the negative impact is likel

Rising inflation - a nightmare for Indian industry    < 2014-02-13 >

For a brief period, it seemed that the woes of the Indian industry in general and the exporters in particular were over as the rupee depreciated against the dollar providing some respite. However, that was not to be. Rising inflation has raised its ugly head and input costs have risen, even as against this backdrop, the industry now

Are Indian SMEs getting their basics wrong?    < 2014-02-13 >

With the markets remaining volatile, small and medium enterprises (SMEs) are finding it difficult to keep pace with the ever-changing equations in the global scenario. And in more cases than one they themselves are to be blamed. Most SMEs who are complaining that they are not getting enough enquiries or are unable to expand their client base are actually doing things wrong and the reasons are manifold. However the foremost

Let's stop blaming global recession, volatile rupee    < 2014-02-13 >

Even as dissection and analysis continue on the global economic slowdown and the volatile rupee and their effects on Indian exports, we are perhaps overlooking certain factors that are hurting our exporters more than we give credit for. Rising inflation, high fuel prices, the uncertain rupee and global recession, tariff and non-tariff barriers are exogenous factors, most of which are beyon

Primark fallout - a lesson to learn!    < 2014-02-13 >

Yet again the issue of alleged child labour in Indian textile factories has come to the forefront after low-price fashion retailer Primark severed contracts with three Indian suppliers in Tirupur in Tamil Nadu. Already high input costs and other existing market uncertainties have eroded the profits of the industry, and incidents like this can be a big blow to India's global image. Although ind

SMEs need to be prompt in replying to buyers    < 2014-02-13 >

With numerous players in the market waiting for their chance, there is fierce competition between small and medium enterprises (SMEs) to get business. Many are complaining that although they are getting enquiries, the same are not getting converted to deals. This is becoming a perennial problem which I, along with my research team, tried to find a solution to. Amazingly enough it was found that still many companies do

Exporters need to focus on value-added products    < 2014-02-13 >

As a gloomy market situation prevails, exporters are feeling the heat battling for ever-shrinking profit margins. And it holds true for almost all sectors. Inflation is at a 14-year high and the steadily increasing input costs are now giving all manufacturers and exporters nightmares. The industry is caught between the deep sea and the devil...they are left w

SMEs need to use their promotional campaign intelligently    < 2014-02-13 >

For small and medium sized companies (SMEs) it is very important that they use their promotional campaign budget very intelligently. Here every rupee counts and unless they are aware of their potential customers, they stand to lose out and thus may render the campaign a total loss. I have come across several cases of companies with clients in overseas markets whose promot

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