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India’s carpet exports exceed US$800mn target in FY12



Carpet exports from India have crossed the target of US$ 800 million set for the fiscal year 2011-12, owing to weakening of currency and increase in cost of production.

India exported carpets worth US$ 808 million during the last fiscal year, registering a 19 percent growth compared to 2010-11, according to the Carpet Export Promotion Council (CEPC).

“The carpet manufacturers and exporters in India are very flexible. They make customized products as per the demand, desired prices, colour and size specifications, etc. which other countries are not able to do, be it for small quantity or bigger quantity. This is one reason for growth in India’s carpet exports,” Mr. SN Singh, Chairman, CEPC, told fibre2fashion.

“Secondly, the weakening of Indian rupee has also benefited us with respect to our older consignments. We got a benefit of around 17 percent,” he adds.

“The increase in labour charges led to a rise in cost of production. So, the carpet export growth is more in value terms rather than in volume terms,” he avers.

The carpet export target has been achieved despite a lack of demand in India’s traditional markets of the US and Europe due to ongoing financial crisis in those countries.

For the last 5-6 years, CEPC has been making efforts to explore new markets and it has been successful in discovering new markets in Latin America and Africa, in addition to Russia, Syria and South Africa. “Indian carpets were earlier exported to these markets through indirect routes, but now these can be exported to these destinations directly,” says Mr. Singh.

Briefing about the problems faced by Indian carpet manufacturing industry, he says, “There is shortage of weavers due to the Government’s National Rural Employment Guarantee Act (MNREGA). The retired weavers are not being replaced by new young weavers.”

“Hence, we have requested the Government to train at least 20,000-25,000 young people in the art of carpet weaving, in order to achieve the export targets during the coming years,” he reveals.

CEPC has projected India’s carpet exports to grow by another 19-20 percent during next fiscal to touch US$ 960 million.

In India, carpet production is mainly carried out in Benaras, Mirzapur, Agra, Shahjahanpur, Meerut, Srinagar and Panipat towns. Carpet production has also started in Chennai and some towns of Gujarat.


India : India
 
Since "Ignited Mind" spammed the entire last page with fake charts, I'm going to make my point again in the hopes that someone with the ability to think logically can answer it:

This Economist article is actually a very good analysis of the situation. I think most people did not actually read it. Here is a good point:

For one, the old orthodoxy was that after liberalisation India had been on an accelerating path, driven by demographics and its high rate of savings and investment. A rival view is now likely to take hold.

It notes that India has grown pretty consistently at 6% since the mid 1980s, with the exception of a faster period in 2004-2007. What looked like a step up in trajectory now looks like a one-off blip driven by a global boom, an uncharacteristic bout of tight fiscal policy and an unsustainable burst of corporate optimism.

It seems that India's relatively "fast" growth from 2004-2007 was nothing more than a"one-off blip"... i.e. an anomaly.

After only 3 years of "fast" growth, the Indians already assumed that it was their destiny to keep increasing the speed of GDP growth forever. 3 years is not a long time, it's more of an anomaly than anything else.
 
So the Indians have nothing to offer against the argument in the Economist other than spamming fake charts? :lol:

From the argument that the Economist made, it looks like India is reverting back to their natural (so-called) "Hindu rate of growth".
 
Same post 5th day.. you should be titled. ...premium Spam

Chinese Dragon is posting on topic. Unlike the Indian troll Ignited Mind who is posting off-topic crap about China, and who has started a number of troll threads just in the last couple of days.

How in God's name that Indian troll hasn't been banned I will never know.
 
Chinese Dragon is posting on topic. Unlike the Indian troll Ignited Mind who is posting off-topic crap about China, and who has started a number of troll threads just in the last couple of days.

How in God's name that Indian troll hasn't been banned I will never know.

If he is banned whom will CD reply to, with 5.3% posts?:what:

Most of his i thank you, you thank me friends are offline today.
 
Chinese Dragon is posting on topic. Unlike the Indian troll Ignited Mind who is posting off-topic crap about China, and who has started a number of troll threads just in the last couple of days.

How in God's name that Indian troll hasn't been banned I will never know.

Thank you for a rational comment at last.

Could I ask your opinion on this Economist article. Do you think India is regressing to the "Hindu rate of growth", and do you think that their relatively faster economic growth from 2004-2007 was just a "one-off blip"?
 
If the same Economist say something bad about China....it becomes Western propaganda. :azn:
 
If the same Economist say something bad about China....it becomes Western propaganda. :azn:

Find me ONE post, in which I have accused any major financial news source of being "Western propaganda". :lol:

Go ahead. :azn:

Go to the search engine and type in: "Chinese-Dragon, Economist, Financial Times, Western propaganda".
 
Find me ONE post in which I have accused any major financial news source of being "Western propaganda". :lol:

Go ahead. :azn:

Go to the search engine and type in: "Chinese-Dragon, Economist, Financial Times, Western propaganda".
I didn't find anything....sorry Superman...:rofl:
 
I didn't find anything....sorry Superman...:rofl:

Hell, I'll be generous. Find me one post in which I have referred to ANY major international news source as Western propaganda. BBC, CNN, etc. you name it.

Back up your accusation for once. :azn:
 
Thank you for a rational comment at last.

Could I ask your opinion on this Economist article. Do you think India is regressing to the "Hindu rate of growth", and do you think that their relatively faster economic growth from 2004-2007 was just a "one-off blip"?

I don't know about the "Hindu" part -- let's avoid phrases like that. In the current global economy, everyone's hurting so it's pointless to make projections or draw grand conclusions.

For India, the big question will be the 2014 election and where the global economy is by then.
 
Hell, I'll be generous. Find me one post in which I have referred to ANY major international news source as Western propaganda. BBC, CNN, etc. you name it.

Back up your accusation for once. :azn:
Ok my friend...it must be some other guy...but you have to admit that people are biased when such reports come out....
 
I don't know about the "Hindu" part -- let's avoid phrases like that. In the current global economy, everyone's hurting so it's pointless to make projections or draw grand conclusions.

For India, the big question will be the 2014 election and where the global economy is by then. Will Europe sort out its mess by then? I doubt it.

Also, according to the latest Indian polls (from the other thread)... the "regional parties" in India are getting MUCH stronger, at the expense of the main two parties. To the point where they will be instrumental in forming the next government.

So the main complaint at the moment regarding India's economy, policy paralysis, it looks set to continue even AFTER the 2014 elections.

Since neither Congress or BJP can come in with a majority. They will need to rely on the now much stronger regional parties to form a coalition government. The ultimate policy paralysis.
 
Find me ONE post, in which I have accused any major financial news source of being "Western propaganda". :lol:

Go ahead. :azn:

Go to the search engine and type in: "Chinese-Dragon, Economist, Financial Times, Western propaganda".

20120519_CND001_0.jpg


Nationalism online: Backfired | The Economist
 
Brazil’s economy: spluttering



High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. Brazil’s economy: spluttering | beyondbrics

A big disappointment from Brazil’s statistics agency on Friday: GDP growth came in far below expectations in the first quarter at 0.8 per cent year on year and just 0.2 per cent over the previous quarter.

The figures will set alarm bells ringing in Brasília, where the government has been doing all it can to kick start the flagging economy.
Analysts had expected much more. A survey of 11 economists by Valor Econômico, a Brazilian business daily, gave a consensus of 0.55 per cent for quarter on quarter growth, in a range of 0.5 to 0.8 per cent. Bloomberg surveyed 50 economists who delivered a consensus of 0.5 per cent q/q.

down by a sharp fall in agricultural output of -7.3 per cent q/q. But there was not much to cheer about elsewhere. The services sector grew 0.6 per cent q/q. Industry (1.7 per cent), family consumption (1 per cent) and government consumption (1.5 per cent) were all weak.

The government has tried various forms of stimulus to get local industry going again. Its biggest effort has been in trying to re-inflate demand driven by consumer credit, which has been flagging after a boom as consumers struggle to service their debts.
But will it work? Valor Econômico has an analysis piece on Friday saying credit alone will not be enough. Demand for credit, it says, is refusing to take off (our translation):

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. Brazil’s economy: spluttering | beyondbrics

And one of the reasons is a change in the pattern of consumption, especially among the middle classes, who have begun to spend part of their incomes on intangible or non-financiable goods: mobile telephony, internet, pay TV, private schools and holidays. And on building up a financial reserve.

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. Brazil’s economy: spluttering | beyondbrics

There is a huge irony in that last line. One of Brazil’s biggest problems is a very low level of domestic savings. Now, it seems, cash-strapped consumers are beginning to understand the value of having something tucked away – just as the government would like them to go on a splurge.

Brazil’s economy: spluttering | beyondbrics
 
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