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Belgium: Latest Indian jugernaut, unstoppable |
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2004-7-27
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In a letter to a newspaper, the Managing Director of Allilon, Belgium informs that it is wishful thinking to believe the looming Asian textiles juggernaut can be countered simply by focusing on ‘high-end products . . . where China and India pose a much smaller threat’.
According to Tosh, the EU Commission experts were yet to read about the acquisition of Germany''s Trevira by Indian conglomerate Reliance (Fortune 500 Company). He went on to cite the Reliance company website stating, Trevira is "the market leader in Europe in high value applications of polyester, especially in automotive and home textiles".
Tosh stated that as previously with information technology and call centres, and now with textiles, pharmaceuticals and much else, India''s increasingly successful (but quiet) economic ascension will be helped by the perception that the west has a monopoly on the ‘really creative and innovative stuff’. |
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