Apparel Online India Magazine July 2nd Issue 2018 | Page 6

FROM THE EDITOR-IN-CHIEF’s DESK…
Look at how the exporters in Bangladesh and India react differently to
tough and adverse situations… While exporters in Bangladesh group
together and collectively work on finding solutions to turn the situation
back into their favour, Indian exporters look helpless and confused.
EDITORIAL TEAM
EDITOR-IN-CHIEF Deepak Mohindra
EDITOR Ila Saxena
COPY EDITOR Veereshwar Sobti
ASST. COPY EDITOR Sahil Sehgal
The most recent evidence of the staying and fighting spirit of the country,
has been the strong response to the US denial of GSP status to Bangladesh.
The exporters, instead of crying over spilt milk, shifted their focus to other
potential countries, leaving the administrational fight to the Government. ASST. EDITOR-NEWS Dheeraj Tagra
ASST. EDITOR - FASHION Anjori Grover Vasesi
SUB EDITOR Priyanka Mishra
The result is for all to see… Today Germany is a bigger market than the
US for garment exporters in Bangladesh, registering almost US $ 275
million higher earnings than that of exports to the US in the period July-
March FY ’18. SR. CORRESPONDENT-FASHION Vishakha Somani
SR. EXECUTIVE-ADVERTISING D K Chugh
CREATIVE TEAM

Raj Kumar Chahal
Peeush Jauhari
Satyapal Bisht
PHOTO EDITOR Gaurav Naroola
OPERATION DIRECTOR Mayank Mohindra
PUBLISHER & MANAGING DIRECTOR Renu Mohindra
A case in point is the quantum of work done, post Rana Plaza, to put the
country back on the sourcing map, almost without a gap. The country not
only regained the buyer’s trust, but also made a name for themselves as
‘doers’…, ready to face any challenge!
Given them some time, and we will find that many European countries like
France, Italy and the UK will come up very strong, giving prep to bigger
business for Bangladeshi exporters.
I think the attitude of the industry to focus on the business rather than
the problems is their biggest strength. The exporters’ rework based on
the current difficulties do not let the present bother or burden the future
growth prospects.
Ever followed Vietnam garment exports… They have set a target of US
$ 50 billion for 2020 and US $ 200 billion by 2035. Though I still don’t know
their roadmap to achieve these goals, but seeing how they have come up in
the past few years, I am pretty sure there must be a game plan in place.
India too set a target of US $ 50 billion in textile exports (including
garments) in 2007 to be achieved by 2010… Even today the figure has not
been able to cross the US $ 42 billion mark. The goal is nowhere in sight,
nor do I see any effort from the Government to give direction.
Instead, the Government seems to be more interested in backing dead
horses, pouring money into companies like Air India and sectors like
handloom, which in reality will not in any way support the future of
the country.
It is time the Government understands the real needs of the country and
its people and delinks with the past to move towards a better and more
prosperous future. What is the point of flogging a dead cause, whose...;
purpose does it serve…?
We are finally seeing change in the banking sector with the NPA
regulations of the RBI putting the noose around bad debt. Under RBI’s new
NPA rules, banks get six months to resolve bad loans, else they have to be
forwarded to bankruptcy… This will not only give new life to the banks
currently crippled by bad loans, but also save the country from pouring in
money on lost causes.
I hope that the next restructuring will target the highly potential but
underrated textile and garment industry!
6 Apparel Online India | JULY 16-31, 2018 | www.apparelresources.com
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