(Filed Under Financial and General Interest News). Matthew Fink, managing director of Fastech and S&S Industries, suppliers of the many components that go into apparel, especially bras and other intimates, was interviewed by BODY publisher Nick Monjo. The focus was Fink’s growing business in India, and how that relates to his other operations in China. Fink is also the president of U.S. operations at Magic Link Garment and CEO of the SX Investment Group.
MONJO: How long have you had your facility in India and where is it located?
FINK: The India facility is located near the port city of Visakhapatnam in Andhra Pradesh state. This facility has been in operation for last 15 years, priorly under S&S, and then in the last five years a massive expansion was initiated to replicate our facilities in China.
MONJO: What do you currently produce in India?
FINK: We have the following capabilities to produce most of the metal and plastic accessories related to garment and consumer industries: wire forming, coating and tipping; die casting, including zinc based alloys; electro-plating of silver, gold, rose gold, yellow brass, copper etc., utilizing both the barrel and rack methods; injection molding; powder coating and nylon coating; metal stamping.
MONJO: You say you have doubled capacity; over what time frame?
FINK: Over a five year span.
MONJO: What triggered your migration of production from China?
FINK: The initially trigger for migration was mainly related to the shortage of low wage workers in China, which was augmented with political uncertainty in China.
MONJO: You have said that your customers love the move to India. Why is that?
FINK: The abundance of technical resources, coupled with low wages, no-tariff to the USA, and a hedge against Chinese political issues and power issues.
MONJO: What is the price difference in India? What are the other benefits to India production?
FINK: Varies from product to product depending on the labor component in total cost. Major benefit is sustainable low wages and no China policy to worry about. That has been ongoing.
MONJO: Do you think this transition to India will be permanent?
FINK: Yes, that’s happening.
MONJO: What else would you like to add about India production and the shift from China.
FINK: It’s the future or you will not be competitive long term.
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