India

A new study from the Associated Chambers of Commerce of India (ASSOCHAM) says that the country’s export competitiveness has been eroded by the real appreciating value of the rupee. The study says that a rupee devaluation of 10-15% against the Euro would provide a “shot in the arm” for exports, though it also notes that falling oil prices and a overall slowdown in global export production were also behind the decline in India. (Fibre2Fashion)
 
Indian-made apparel needs to become more competitive in terms of price and quality if it wants to compete in the Australian market, according to Indian diplomatic officials. During the recent International Sourcing Expo in Melbourne, Australia, India’s Consul General to that city noted that Indian exporters should must focus on upping their production of value-added goods if they hope to compete with China and get a piece of the estimated US$6 billion Australian market. A total of 65 Indian exhibitors attended this year’s fair. (Fibre2Fashion)
 
India and Bangladesh have agreed on a set of Standard Operating Procedures (SOPs) to implement the Agreement on Coastal Shipping signed by the two countries in June. The SOPs were finalized during a recent bilateral meeting in New Delhi and will streamline coastal shipping between the countries, making short-haul routes between Eastern India and Bangladesh cost-effective. (Business Standard)
 
The government of Kerala has announced a new initiative to support women entrepreneurs in the garment manufacturing sector. The Women Entrepreneurs Collaborating And Networking (WECAN) initiative would assist female business owners with logistics such as infrastructure, mentoring, networking, and financial affairs. The WECAN initiative hopes to identify and support at least 1,000 women during its initial phase. (Fibre2Fashion)
 
Leaders within India’s silk industry say that it has the potential to become completely self-reliant to meet the demands of the local silk market by 2020. Officials say that while the country currently imports silk from China to augment the current domestic supply, advances in production technology will allow the country to wean off of these imports in the near future. It is estimated that India producer over 16% of the world’s silk. (Fibre2Fashion)