High Cost Labor Force Will Become A Major Obstacle For India Investors To Enter South Africa.
According to South African media, Vikram Doraiswami, the Consul General of India in South Africa, said South Africa
High-cost
Labor has become a major obstacle to India's investment in South Africa's textile industry.
Because of the increase in cost, India textile production investors who originally used South Africa as a springboard to enter other African countries are gradually considering adjusting their investment strategies.
Doraiswami pointed out that the India economic department has raised the issue of consultation with the South African government on the issue of cost increase. At the same time, he also hopes to discuss a series of issues related to the development of the textile industry in India and South Africa with the relevant departments, producers and traders of South Africa on the fifth India textile and clothing products fair, which is to be held in Johannesburg, South Africa in March.
At present, South Africa has reached 30% - 40% in terms of levying taxes on textiles and clothing.
2009
South African Trade
The Ministry of labour has provided more incentives and mechanisms to South African non local textile and garment producers to further enhance the competitiveness of local producers, which aim to reduce the impact of international low-cost textile and garment products on local producers in South Africa.
Data show that since 1990s, India's market share in South Africa has dropped from the initial 15% to 7% today.
Doraiswami also pointed out that as the world's second largest textile and garment industry after China, India has reached 7 million of its employees, and its sales volume has reached nearly 10 billion US dollars, mainly in Europe, Asia, the Middle East and the Americas.
The textile and clothing products exported to South Africa are mainly middle class consumers.
Apart from South Africa, India also has trade with the southern African Customs Union countries including Botswana, Lesotho, Namibia, Swaziland and other countries.
At present, India and the South African Customs Union countries (including South Africa) are negotiating freedom.
trade agreement
The signing of the agreement in the future will help India and the southern African Customs Union countries to further expand trade products and enhance regional trade volume.
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High Cost Labor Force Hinders India Investors From Entering South Africa'S Textile Industry
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