export to australia (ready made garments) synopsis

7/31/2019 Export to Australia (Ready Made Garments) Synopsis

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SYNOPSIS

On


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INTRODUCTION

The Indian ready-made garment industry has been the largest foreign

exchange earner for the country and accounts for almost 14% of the total

foreign exchange earned by the country. The exports of Garments, which

were Rs. 30,86,008 in 1997, up to Rs. 26,72,007 during 2005-06. The

major markets of Indian exported garment have been the EU and USA,

which together contribute almost 68.30% of the total garment exports.

Other restrained countries amount for 4.03%. The Non-Quota countries

account for 27.67% share, though in totally the exports of Non-Quota

items to quota countries and OBA countries account for 43.12%.

With the objectives of promoting exports from India to non-quota

countries, which do not impose quantitative restrictions, various export

promotion measures in such countries are to be initiated by Apparel

Export Promotion Council of India, as a large market prevails therein.

Among the notable non-quota countries are Australia and New Zealand.

In 2005-06 Indias export of readymade garments to Australia and New

Zealand amounted to US $56.5 mn and US $11.9 mn respectively.


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AUSTRALIA PROFILE

The Place

Australia is in the Southern hemisphere and lies Southeast of Asia

between the Indian and Pacific Oceans. The total area covered is

77,41,000 sq. kms and has a meager population of 19 million.

Australia has an efficient Air, Road and Rail Transport Services operating

throughout Australia spans 3,700 kms (2,294 miles) from North to South

and 4000 Kms. (2,480 miles) from East to West. Mainland Australia is

mostly a flat low lying land, the centre of which consists of vast, arid

desert.

The Climate

The capital cities and coastal areas, where most of the population lies,

enjoy pleasant climates with long hours of sunshine and mild winters.

However, Darwin, Brisbane and Sydney tend to be hot and humid in

summer. The seasons are the reverse of these in the Northern

Hemisphere.

CLIMATIC CONDITIONS ARE AS FOLLOWS :

Summer From December to February

Autumn From March to May

Winter From June to August

Spring From September to November

January is the hottest month. The conditions vary according to

geographic locating within the vast continent from tropical to

temperature climate.

TIME DIFFERENCE:

Perth (Western Australia) IST + 2.5 hrs.


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Adelaide (Southern Australia) IST + 4 hrs.

Brisbane, Sydney, Canberra, Melbourne (Eastern States) & Hobart IST +

4.5 hrs. Except for Western Australia, there is an additional one hour

difference during summer.

COMPANIES IN AUSTRALIA

1. Companies in Australia are governed by the Corporation Law ofAustralia (the Law) and are considered as separate legal entities

in their own right, as compared with the shareholders and

directors of the company.

2.The difference between public and proprietary companies is thatpublic companies may raise funds through the issue of share to

the public.

3. Public companies must have at least 5 shareholders and 3directors and are generally larger than proprietary companies.

4.To incorporate a new company, first choose and then reserve thename of the company. The name cannot be substantially identicalto an existing company. Company name may be reserved for a

period of two months. Upon registration of the company, an

Australian Company Number (ACN) will be allocated.

5. At least one director must reside in Australia. The companysecretary must also reside in Australia, however, a person may act

both as director and as company secretary.

6. It is a requirement that the company advise the AustralianSecurities Commissioner (ASC) of its registered address and the

names of the company directors and secretaries.

7. After lodging the application from with the prescribed fee the ASCwill issue a Certificate of Incorporation.


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8. Upon the appointment of the director(s), the company maycommence operations.

9. Each year the company must lodge an annual return with the ASCby 31

st

January of the following year.

10. All company records must be kept at the registered office ofthe company. Failure to comply may result in a fine or

imprisonment, or both.

11. The rules, which apply to companies, differ depending ontheir size and status Additional requirements apply to large

proprietary companies and all public companies. The additional

requirements include:

Preparing profit and loss accounts and a balance sheet foreach financial year

Appointing an auditor to audit the companys financialstatements

Lodging the financial statements with the ASC within foru

months of the end of the financial year; and

The holding of an Annual General Meeting at least once inevery calendar year.


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INDIA AUSTRALIA TRADE SCENE

1. The creation of trade blocs all over the world makes in imperativeto strive towards enhanced regional co-operation, building upon

the regions strengths and complementaries. The move towards

forming the Indian Ocean Rim bloc, in which both India and

Australia are expected to be major players, is a welcome step in

this direction.

2. The trade basket between India and Australia is confined to alimited number of items. This can be viewed in the context of

Indias capabilities, and the vast scope for increasing as well as

balancing the trade which continues to remain in Australias

favour.

3. Indias main exports consists of coffee, cashew, leather goods,gems & jewellery, manufacturing of metals, machinery and

instruments, cotton yearn, fabrics and made ups, ready-mage

garments.

4. Indias main imports from Australia are pulses, raw wool,mataliferrous ores and metals scrap, non-ferrous metals, gold and

silver, non-electric machinery, electronic goods, computer software

from Australia.

5. There is very good scope for increasing exports to Australia ofitems like computer software and hardware, office machinery,

electrical machinery, textiles, engineering items, gem & jewellery,

chemicals and pharmaceuticals, processed foods etc.

6. India can import from Australia items like steel,telecommunication equipment, power equipments, agricultural

produce, paints, precious and semi-precious stones etc.


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There is good scope of joint venture between India and Australia in the

field of food processing and packaging equipments, oil and natural gas

explorations and development minerals, telecommunications, computer

software, power generations etc.


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AIM OF THE STUDY

To identify product niches in which promotional effort is required,

impressing upon the trade potential in Australia and the benefits to

the exporters.

OBJECTIVES/SCOPE OF THE STUDY

The broad objectives of the report can be laid down in the following form:

1.To provide information on the fashion styles of the Australianmarket.

2.To have a comparative analysis of Indias strength and weaknesson which base it can compete in the world market and identify

other competitors and also recommend a marketing strategy for

building effective dimensions in the garment trade.

PROBLEMS DEFINITION / HYPOTHESIS

The study is intended to find the export potential of Indian Ready-made

garments to Australia, to reveal present pattern and possible future

developments of supply, demand and consumption in relevant product

specific markets.


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STATEMENT ABOUT THE PROBLEM

WHY IS THE PARTICULAR TOPIC CHOSEN ?

Because Indias main imports from Australia are pulses, raw wool,

mataliferrous ores and metals scrap, non-ferrous metals, gold and silver,

non-electric machinery, electronic goods, computer software from

Australia. There is very good scope for increasing exports to Australia of

items like computer software and hardware, office machinery, electrical

machinery, textiles, engineering items, gem & jewellery, chemicals and

pharmaceuticals, processed foods etc.

WHAT CONTRIBUTION WOULD THE PROJECT MAKE ?

My project will make great contribution towards changing fashion

scenario with their exposure to world markets.


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METHODOLOGY

1. Type of Research

The research type will be Exploratory and descriptive

research.

2. Selection of sampling procedure or Sampling plan

Collection of Data

Primary Data : Primary data will be generated from individuals, so

questionnaire will be used to provide orderly and structured approach to

data gathering.

Secondary Data : Sources through which the secondary data will be

collected are:

Export promotion Council Information from Internet Information from Journals Information from Magazines sand Newspapers


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CHAPTERISATION

Introduction Objective Australia Profile Comparative Economic IndicatorsIndia & Australia Export to Australia Export Benefits Duty Drawback rates on Readymade Garments Price and Payments Terms Australias Import Regime Why Australia? Australian market for Apparel Distribution aspects in Australia Strategies for Successful Garment Exports Indian Garment Exports; Strategic Gaps and their Elimination Tips for Persons Landing in Australia Swot Analysis Conclusions; Suggestions & Recommendations Suggestions to the Government Bibliography


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BIBLIOGRAPHY

1. Australia -New Zealand A study of Indias Trade & InvestmentPotential.

2. Garment Exports A Guide Apparel Export Promotion Council,Registered Office: NBCC Tower, 15, Bhikaji Cama Place,

New Delhi-66.

3. Handbook of Export Statistics Apparel Export Promotion Council,Registered Office: NBCC Tower, 15, Bhikaji Cama Place,

New Delhi-66

4. In the National InterestAustralias Foreign & Trade Policy

White Paper

5. India Australia Limitless Opportunities, CII Lodhi Road, New Delhi.6. Report on BuyerSeller meets at Australia & New Zealand.7. www.australia.com

export to australia (ready made garments) synopsis

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