Clothes2Order Home » Printing and Embroidery News » Economic Crisis in USA Affects the Global Textile Industry
Chinese Wear UCLA Promotional Clothing
Jeans and Printed T-Shirts Are a Fashion Style
Burger King Promotional T-Shirts
Del.ico.us
Google
Yahoo MyWeb
Blink
Digg
Furl
Simpy
Spurl
Economic Crisis in USA Affects the Global Textile Industry
Saturday 04th of October 2008 03:54:09 PM
The fibre2fashion news desk keeps track of textile manufacturing and sales figures and prices around the world. Recently the trade company spoke with Mr. Vikram Rao who is the Business Director of Textiles and Apparels for the Aditya Birla Group in India. The concern that is impacting the textile industry around the world is the USA economic crisis.The USA is such a significant player on the textile global market stage that any up or downturns impact other textile markets. In fact, the USA imports more textiles from other nations than any other country. With the slowdown in the USA economy, imports have dropped which has now become a trend over the last few months.
India is one of the countries feeling this impact. The actual USA imports are expected to miss budgeted figures by over $6 billion. The Aditya Birla Company is a global conglomerate that has invested heavily in the textile industry. Mr. Rao is considered an expert on the global textile market and his views on the USA crisis are noteworthy.
Mr. Rao was quoted as saying,“The financial turmoil will have an adverse impact on the Indian textile sector. The real impact would be felt if the overall economic slow down in the US and European economies persist over a long duration, which would impact the consumer consumption in these economies. This would result not only in the reduction in demand for the Indian Textile Sector but also result in pricing pressures.”
He made some interesting comments also on the difference between the USA and the European textile and branding markets. “The US and Europe are two distinct markets. US is the biggest market in terms of volumes whereas Europe offers better pricing but demands higher quality products. But Europe cannot match the volumes, which US offers. Hence, Indian companies cannot afford to ignore either of the markets. In order to fill up production capacities, sizable presence in the US is a must.”
The impact of the European and USA economic downturns which are leading to pricing pressures is having an obvious impact in one way. The textile industry manufacturers are turning more and more to Asia for production. This means those t-shirts and polo shirts you like to wear may very well have come from one of the Asia plants in the near future. Companies are rapidly switching sourcing markets for their products.
(c) Image by Scol22, www.sxc.hu/
Good experiance and will use you again. Roxy was very efficiant.
fantastic service! Products arrived sooner than expected. Also they had understood my design and made sure it was printed to an exceptional standard!
I don't know if you've changed your embroidery machine but the quality seems a lot sharper, very pleased with the club logo, all the best Series McRae Owners Club