Glass and metal tableware from India have gained international recognition for their exquisite craftsmanship, innovative designs and competitive prices.
India’s English-speaking population and skilled workers, combined with its accessibility to raw materials, have helped the country establish its position as one of the major sourcing centers for trays, cups, plates and tabletop accessories in Asia.
The high interest in India’s glassand metal tableware is the result of growing demand for quality merchandise that is reasonably priced. In fact, more than 65 percent of companies interviewed for this report anticipate their export sales to increase in next 12 months despite the current global financial crisis.
Most suppliers, however, expect the rise in material costs and unavailability, and price competition among exporters will continue to challenge their businesses in the coming months.
The price of stainless steel has increased by as much as 15 percent over the past 12 months, while brass and copper are at least 5 percent more expensive compared to early 2008. Although there is sufficient domestic supply of raw materials, tableware makers are reporting difficulty in sourcing the metal.
Intensifying competition from local and overseas suppliers has also forced many manufacturers to focus on product development.
The following are some of the keytrends we see in India’s tableware industry:
• Suppliers are optimistic about export sales in the coming months as consumers cut down on spending and cook their own meals at home.
• Exports in the line are expected to experience modest growth in the next 12 months, with some suppliers anticipating the economic slowdown to ease in late 2009 or early 2010.
• More than half of interviewed manufacturers will increase export prices to keep up with production cost. Some suppliers are exploring other sources of raw materials to have more control over current prices of metal.
• The EU and North America will continue to be the top importers of India-made tableware, despite the drop in consumer demand in these regions. Makers will also focus on markets that they have substantial exporting experience such as South America and the Middle East.
• Companies will continue to upgrade their production facilities by purchasing equipment in the US, the UK, Greece, France, Japan, mainland China, Taiwan and South Korea.
The above is extracted from the Executive Summary of China Sourcing Report: India - Glass & Metal Tableware
To learn more about this report, visit: http://www.chinasourcingreports.com/csr/india-glass-metal-tableware
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