Perfect Sourcing - December 2013

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Year 2013 is ending and as we wait for beginning of another year hoping it would
be better than the last year. 2013 was a mixed bag for the industry as the year
started on a slow note and till the second quarter the pace of business was not
upto the mark. However, after the month of May India saw momentum as
orders from the US and EU picked up and exporters were running in full
capacities. The revival of US economy and improvisation of Europe was a major
factor that influenced growth. Also, the incident that happened in Bangladesh
where more than 1000 people were killed also proved to be a turning point. The
buyers all over the world were concerned about the compliance situation and
this made them shift some orders to Vietnam, China and India.
Another positive factor for the industry is having an energetic and optimistic
team in the Ministry and having a highly aggressive TEXTILE MINISTER Shri.
KS Rao who is ready to take the industry to next level along with the support of
his team, exporters and the Government. He is one of the few, who is ready to
take up immediate action and want the industry to progress fast. He does not
mind scolding exporters on their weak areas and lack of unity among them. He
is directing the players to unite, bring targets and deadlines and seek support
from the Government in achieving those. He is for sure wants to bring change. It
is very rare that a Textile Minister is seen working so hard for the benefit of the
industry and its growth. We believe that the industry should realize this as a big
opportunity and should work proactively along with Minister and his team for
outstanding results in textile and apparel sector. All these factors helped apparel
export sector gain its lost charm as exports from India increased by 30.91% and
reached to USD 1190 whereas in rupee terms it has increased by 53.3% against
the corresponding month of last financial year.” In April-Oct, 2013-14 in rupee
terms, apparel export of India was to the tune of Rs. 49096 Cr as compared to
Rs. 38911 Cr in April-Oct, 2012-13. In the FY 2012-13, exports in dollar terms
declined by 6% from previous FY and totaled USD 12923 mn in April-March
2012-13. In this Issue, Team Perfect Sourcing, talked about one of the tools i.e
Industrial Engineering, which is fast catching up as an important way of
increasing productivity and delivering goods on time. However, it is sad that the
importance of having I.E is only felt among the top and some medium
exporters, others either are not interested in having I.E’s or consider that they
do not require I.E. In the fast changing business dynamics when new
opportunities are coming to India, the change has to be brought at all levels
because if at all there is any discrepancy and non-commitment it will impact
country’s image and overall growth. Thus, it is pertinent that players realize that
I.E. is an effective tool and can bring substantial changes in the output and
timing.In our face2face section we caught with Animesh Saxena, MD, Neetee
Clothing who is implementing latest methods of enhancing productivity and is
adopting measures to support its employees in having a good association with
the company. 360 Degree Performance Appraisals, empowering HR ,
safeguarding women employees from any kind of abuse or misconduct are some
of the ways through which the company is progressing fast. On this note I would
to conclude the last editorial of year 2013, we hope we would keep on bringing
interesting details and articles about the industry for our readers.