Textile firms are looking forward for a major improvement in their performance in the quarter April to June 2005
June 1, 2005 (Press Release) --
Mumbai: 30th May 2005: In today’s competitive economies, textile firms are looking forward for a major improvement in their performance in the quarter April to June 2005. The enthusiasm is best explained in words of Mr. V K Goyal, Chief Executive of Vardhaman Spinning and General Mills (quote) “Business prospects seems to be improving, I am positive that the industry will do better in days to come”.
Exports have increased with the removal of quotas and fierce competition has set in to grab a larger pie of the export market. This is revealed by YarnsandFibers maiden survey on Indian textile business confidence held in late March and early April 2005. The three business confidence indices – the YnFx Business Confidence Index (measure of future prospect), YnFx Current Business Status Index (measure of current status) and YnFx Business Margin Expectation Index (measure of pricing input and output) - which emerged from the survey explains the enthusiasm and strategies that textile firms believe would enhance their performance.
The YnFx Business Confidence Index for the quarter April to June 2005 stands at 86.5 as against the YnFx Current Business Status Index at 75.0 for the quarter January to March 2005. However, the YnFx Business Margin Expectation Index, which measures the firms pricing capabilities for their end-product as well as for the inputs, stands at 50.0 for the quarter April to June 2005.
The index is on the scale of 0 to 100, where the highest is 100; at 50 the confidence is same as today and below 50 implies lower than the current level.
A majority of firms are of the opinion that the greatest source for enhancing performance will be better pricing capabilities and developing new products. This is true when the market is consumer driven and taste and consumption patterns change with lifestyle.
Only a few believe that using existing products to enter new markets or expanding current market with existing products would influence their performance.
The survey shows that large firms are very optimistic over the coming quarter performance. The YnFx BCI stands at 100.0 for large companies with sales of over Rs.500 crore. The index is lowest for firms with sales of less than Rs.50 crore.
About YarnsandFibers.com
Launched in 1998, YarnsandFibers has successfully completed 6 years in providing global Market Intelligence and Market Development Services. It has emerged as a leading service provider in the textile space with member companies ranging from over a 150 countries; including all major players in the segment.
YarnsandFibers successfully combines the online and offline mechanism to deliver maximum value to its users.
For Further information, please contact:
Ms. Swati More
Mobile: +919869523081
Exports have increased with the removal of quotas and fierce competition has set in to grab a larger pie of the export market. This is revealed by YarnsandFibers maiden survey on Indian textile business confidence held in late March and early April 2005. The three business confidence indices – the YnFx Business Confidence Index (measure of future prospect), YnFx Current Business Status Index (measure of current status) and YnFx Business Margin Expectation Index (measure of pricing input and output) - which emerged from the survey explains the enthusiasm and strategies that textile firms believe would enhance their performance.
The YnFx Business Confidence Index for the quarter April to June 2005 stands at 86.5 as against the YnFx Current Business Status Index at 75.0 for the quarter January to March 2005. However, the YnFx Business Margin Expectation Index, which measures the firms pricing capabilities for their end-product as well as for the inputs, stands at 50.0 for the quarter April to June 2005.
The index is on the scale of 0 to 100, where the highest is 100; at 50 the confidence is same as today and below 50 implies lower than the current level.
A majority of firms are of the opinion that the greatest source for enhancing performance will be better pricing capabilities and developing new products. This is true when the market is consumer driven and taste and consumption patterns change with lifestyle.
Only a few believe that using existing products to enter new markets or expanding current market with existing products would influence their performance.
The survey shows that large firms are very optimistic over the coming quarter performance. The YnFx BCI stands at 100.0 for large companies with sales of over Rs.500 crore. The index is lowest for firms with sales of less than Rs.50 crore.
About YarnsandFibers.com
Launched in 1998, YarnsandFibers has successfully completed 6 years in providing global Market Intelligence and Market Development Services. It has emerged as a leading service provider in the textile space with member companies ranging from over a 150 countries; including all major players in the segment.
YarnsandFibers successfully combines the online and offline mechanism to deliver maximum value to its users.
For Further information, please contact:
Ms. Swati More
Mobile: +919869523081
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