| Date: |
06-01-2012 |
| Subject: |
China Competition Hits Polyester Yarn Exports Close |
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AHMEDABAD: Stiff competition from China has led to a fall in the export of Indian polyester yarn and fabric by 20% despite a weaker Rupee. India exports polyester yarn and fabric to Southeast Asian and West Asian countries. Switching their strategies, companies are now planning to invest in home furnishing and high-end fabric apart from focussing on Latin America.
"There has been a fall in dem-and for polyester fabric. Considering that the fabric was cheapest at Rs 30 a metre, the drop in sales was not expected," said Pramod Chaudhary, president, South Gujarat Textile Processors Association. Surat alone produces over 80% of polyster fabric, with exports accounting for about Rs 1,000 crore in 2010-11. "Companies are now focusing on improving the structure and designing of the fabric to get an edge in the global market," said Tatithaiya-based Venus Silk Mills owner Vipul Desai.
The industry is now looking at new markets in Brazil, Columbia and Argentina.
Source : economictimes.indiatimes.com
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