| From The Editor's Desk |
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Exporters need to focus on value-added products
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 with very
little options not to increase the prices of their products, but have to
also live in fear that if they do so, they stand to lose buyers to
low-cost countries.
Even in the domestic market one can see a drop in demand for autos,
homes, offices, and a whole lot of other goods and services. Since
borrowing has become expensive, it is bound to impact demand, especially
of goods and services.
Now the question is: what can the manufacturer/ exporter do to counter
this slump in demand? The domestic companies need to wake up to the
challenge. Their stress should be now on value, rather than volume. They
need to tell the buyers that if they want value-added products, they
need to pay more for them.
There is a vast pool of untapped reform potential that the manufacturer/
exporter can tap to raise long-term profits. There is much room to raise
productivity growth; the production line must be streamlined to derive
maximum benefits from minimum input.
The industry also has great supply side challenges which need immediate
attention. A huge amount is lost in the supply chain, which can be
lessened by the companies. Above that both manufacturers and exporters
need to concentrate on products that are in demand. 'Give what the buyer
wants' should be the mantra in these trying times. |
Bikky Khosla
CEO
Tradeindia.com |
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| Country Focus - Kazakhstan |
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Monthly Economic & Commercial Report on Kazakhstan for March 2008 giving latest updates on developments directly affecting India's foreign trade and investment. Read More... |
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| Reader's Feedback |
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Dear all, |
While I am against employing child labour in factories, I cannot help but say that Primark has been irresponsible to some extent. Not only Primark, many other big international names sometimes go out of the way to on social compliance and put factories under tremendous pressure to deliver goods at unthinkable prices. Now one may argue why accept an order in the first place? But the reality is different and big buyers know this fully and exploit the situation to the hilt by extorting an unrealistic price from the sellers. Such is the hypocrify.... |
Shaukat Islam |
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 Interview of the week |
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Corporates need to show social responsibility: S K Dev Verman |
 Weeks after the Primark fallout, SME Times spoke to S K Dev Verman, Joint Secretary, ministry of Labour and Employment, on the child labour issue that has been afflicting India Inc. for some time now. |
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