The Indian Market: Price-Sensitive but Full of Opportunities


Karnataka News


Gabie Boko, the Chief Marketing Officer of California-based data infrastructure company NetApp, highlighted the complexities of the Indian market, noting its high sensitivity to pricing. Despite this challenge, India’s strong emphasis on digitization offers a unique range of business opportunities for companies looking to expand. This combination of price sensitivity and rapid digital growth makes India an appealing market for various industries.

To effectively navigate this landscape, NetApp has been focused on customizing its products and services to align with the specific needs of Indian businesses. By tailoring their offerings to be both affordable and flexible, the company aims to provide solutions that resonate with enterprises in the region. This strategy is crucial for building trust and establishing a foothold in such a competitive environment.

Ms. Boko explained that by understanding the distinct requirements of the Indian market, NetApp is better positioned to support businesses in their digital transformation journeys. The company’s commitment to addressing cost concerns while enhancing flexibility ensures that enterprises can leverage modern technology effectively, ultimately driving growth and innovation in India.

Read More: Internship Program: Applications Now Open for Young People

NetApp’s Commitment to the Indian Market: Balancing Opportunities and Cost Sensitivity

“The Indian market is a key focus for us at NetApp, as it offers a unique mix of opportunities along with challenges. We recognise that this market is highly price-sensitive, so we’ve tailored our offerings to be cost-effective and flexible, addressing the specific needs of enterprises here,” she elaborated. On the market outlook for India, she commented, ‘‘Our CEO, George Kurian recently said India is a key market for us and will be one of the top three markets in the APAC region.”

NetApp recognized the potential of the Indian market during its rapid digital transformation, as noted by Ms. Boko. The company understood that while there were significant opportunities for growth, the market’s strong emphasis on cost posed a challenge that needed to be addressed.

Despite this challenge, NetApp remains committed to adapting its strategies to align with the financial realities of Indian enterprises. By focusing on cost-effective solutions, the company aims to support businesses in their digital journeys while ensuring they can manage expenses effectively.

Check out more categories at Karnataka News Express

Readymade Garment Exports Drive Growth in the Textile Sector

According to the Ministry of Textiles, the textile sector is poised for significant growth, with an anticipated 11% year-on-year increase in readymade garment exports. The trade data for August revealed that readymade garment exports have indeed experienced this 11% growth compared to the previous year.

To capitalize on this momentum, the government has implemented various schemes and policy initiatives designed to enhance the sector’s inherent strengths. These efforts aim to support the textile industry in achieving its ambitious goal of reaching $350 billion in exports by 2030, as stated by the Ministry.

“While over ₹90,000 crore of investments is expected to flow through the PM Mega Integrated Textile Region and Apparel (PM MITRA) Park and Production Linked Incentive (PLI) Scheme in the next three to five years, schemes like the National Technical Textiles Mission are expected to help India acquire leadership position in emerging sectors such as technical textiles,” the Ministry said.

The industry is seeing promising signs with several investment decisions on the horizon, which bodes well for its growth. Once fully operational, each of the seven PM MITRA parks is expected to attract investments of ₹10,000 crore.

Check out more latest Business news

Navigating Challenges in the Man-Made Fiber Sector Amid Government Initiatives

Additionally, the Production-Linked Incentive (PLI) Scheme is set to make a significant impact, with a total projected investment of over ₹28,000 crore and anticipated revenues exceeding ₹2 lakh crore. This scheme aims to boost the production of man-made fiber (MMF) apparel, fabrics, and technical textile products, further supporting the industry’s expansion.

Industry sources in Coimbatore have expressed that while the government’s efforts are a positive step, it is crucial for the government to ease the Quality Control Order (QCO) regulations. They noted that while India is competitive in the global cotton textile market, it struggles to compete in the man-made fiber (MMF) sector.

The sources explained that the raw material costs for polyester and viscose fibers are significantly higher, with prices being approximately 45% and 21% more expensive, respectively. This pricing challenge makes it difficult for Indian manufacturers to compete effectively in the MMF market.

Related Posts

  • Adani Green Energy Shares Plunge 11% Following Total Energies’ Announcement

    Adani Green Energy Shares Plunge 11% Following Total Energies’ Announcement

  • Start Your Own Business with 20 Lakh: Entrepreneurs React to Zomato CEO’s Unique Job Offer

    Start Your Own Business with 20 Lakh: Entrepreneurs React to Zomato CEO’s Unique Job Offer

  • Stock Markets in Plunge: Is Now the Right Time to Invest in Mutual Funds?

    Stock Markets in Plunge: Is Now the Right Time to Invest in Mutual Funds?

  • Retail inflation increases to 6.21% in October, reaching a 14-month high

    Retail inflation increases to 6.21% in October, reaching a 14-month high

  • National Entrepreneurship Day 2024: Celebrating Success Stories and Future Innovation

    National Entrepreneurship Day 2024: Celebrating Success Stories and Future Innovation

  • Earn lakhs with government assistance in poultry farming, and youth are getting an ample opportunity in the Mahasamund district

    Earn lakhs with government assistance in poultry farming, and youth are getting an ample opportunity in the Mahasamund district

  • India’s Forex Reserves Decline by Rs 31,177 Crore to Rs 58.92 Lakh Crore

    India’s Forex Reserves Decline by Rs 31,177 Crore to Rs 58.92 Lakh Crore

  • Tea Board Sets Goal to Double Exports by 2047

    Tea Board Sets Goal to Double Exports by 2047

  • Internship Program: Applications Now Open for Young People

    Internship Program: Applications Now Open for Young People

  • FPIs Withdraw ₹58,711 Crore from Indian Stocks Amid Geopolitical Tensions and Strong Chinese Market

    FPIs Withdraw ₹58,711 Crore from Indian Stocks Amid Geopolitical Tensions and Strong Chinese Market

More Links To Check!

punjab news paid ads
punjab news paid ads