Singapore for textile outsourcing from India

Friday, 19 December 2003, 20:30 IST   |    2 Comments
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NEW DELHI: A Singaporean textile and garment business delegation is here to scout for opportunities to work with Indian companies for outsourcing textiles. The delegation "sees big opportunity for investment especially in joint ventures with Indian partners and outsourcing of fabrics and garments to facilitate their global textile trade," Edward Ang, president of the Singapore Textile and Fashion Federation, said here Thursday. The leader of the Singapore trade delegation told members of the Confederation of Indian Industry "Singapore was keen to promote outsourcing from India as an alternative textile supply base to its existing supply sources from China, Hong Kong, Indonesia and Korea in the event of quota-free textile trade by next year". According to Ang, who is also the CEO of Ocean Skyline International Ltd, overseas joint ventures account for two-thirds of Singapore's textile and garment trade worth Singapore $4 billion. Noting that Singapore would be keen to have business tie-ups with Indian apparel and fabric producers, Ang called on Indian textile companies to establish outlets in Singapore, the gateway to Southeast Asian markets. In his presentation, Prem Kumar, advisor strategic planning of Vardhman Spinning and General Mills Ltd, said: "Singapore and India can collaborate to promote textile trade in a multilateral trade framework by identifying high potential items of trade." Kumar suggested setting up a working group for continuous exchanges to take ahead the potentially beneficial cooperation.
Source: IANS
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