Surat Saree
395 days ago  Quote('2534500','2534500','5','26278')">Report spam The famous Surti sari may get a ted cheaper. With stocks piling up, sari traders in the synthetic textile hub of Surat have started offering huge discounts, about 20 per cent to 30 per cent, to buyers across the country. Ramavatar Lohia, owner of Sree saree, closed an order of 5 lakh worth of saris for Rs 3 lakh after negotiations with a Delhi-based buyer . "The stock was two month old . Had I not giveen him the discount. I would have had to sell it off at a much lower price later, " he said. Lohia said the wholesale price of the sari stock he sold to Delhi-based buyer ranges between Rs250and Rs 600-somthing that would have cost him Rs 450 to Rs 850 two months ago. There are hundreds of sari traders who have been offering heavy discounts to buyers in order designs and patterns keeps on changing very fast and the colors are not assorted. According to Devkishan Manghani secretary Federation of Surat Textile Traders Association (FOSTTA), the textile industry in the city manufactures sarees worth Rs 9,000 crore and Rs 11,000 crore per annum. There is no other way but, to clear stockpile before it becomes outdated. "This years traders have been facing around 30 to 40 per cent losses with a slack Diwali and marriage season. Losses are pegged at Rs 5,000 crore to Rs 6,000 crore Sarees worth Rs 7,000 crore to Rs 8.000 crore are piled up in the god owns of the textile traders," said Mangham. The man -made fabric industry in the city is equipped with over six lakh power-looms that manufactures around there crore meters of fabric per day. Around 400 dyeing and processing units each one having the capacity to process around 20 million linier meters of fabric per annum, produces fabric and sarees in the country. The annual export of sarees and dress material is pegged at Rs 1,200 crore, while the supply in the domestic market ranges between Rs 18,000and 22,000 crore per annum. A recent report by the leading credit rating agency, ICRA, revealled that sari , as a category , has clocked an impressive 8.8 per cent annual growth in valuators - the growth of other textile categories like suiting shirting, ready-made garments etc. has declined - between 1998 and 2006 to become a Rs 53.469 corore market. "Around 70 per cent of the sarees market in the country is catered by the traders and dealers in Surat," Said Arum jariwala. http://www.shoppingsurat.com
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