Perfect Sourcing - January 2015

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IS SOURCING MOVING TOWARDS INDIA - The year 2015 has began and everybody is waiting for buyers verdict in terms of buying garments from India in 2015. While the last year remained average for the industry and there was a mixed response from exporters in terms of growth and improved market situation. In fact, the last quarter of the year was not as per the expectations. The competition from Bangladesh, China , Vietnam continued to be strong, however, buying out of India was also positive. As per the interaction with most of the buyers sourcing directly out of India, it is foreseen that Happy Days will be back again in 2015. The dropping prices of raw material, dollar advantage to Indian rupee as compared to other currencies, stable and aggressive Government of India who is trying to make manufacturing easy all these add up to a great combination for good business in the coming days. Exporters though did not expanded capacities they surely looked upon newer product categories which could fetch them higher UVR. The trend of MMF in garments also brought good growth for the industry. If statement of buyers is to be believed then we can see India becoming a top priority for sourcing garments in the coming years. The strategy of some exporters of working towards newer market also worked well. In the coming year, according to most of the buyers the situation looks positive and upfront and exporters can expect good orders. With gas prices going down, consumers are again ready to shop till they drop, which means better business in the coming times.