Dear Mr XXX..
PL support for the below reasons.. I will divert the bigger share for future Pos.
Our All competitors including XXX company reduced the prices drastically..
a] GLOBAL recession...
b] Decrease in Steel Prices worldwide..
c] Devaluation of Chinese currency..
d] Slow down in Indian Market...
The attached News paper cutting is self explanatory.
As the Rupee touched a three week low of 68.93 to a dollar this week .and the stock markets tumbled to a 19th month low over
worried spurred by a cheaper Chinese Yuan.....the world seemed to have just one question will the currency and equity markets
plumb fresh depths ?
REASON > the immediate reason for rupee's fall is china's devaluation of its currency Yuan , to aid its export..
China's central bank had first devalued the Yuan in August 2015 to its lowest value in three years.
this made china 's products cheaper and helped its exporters beat competitors.. but export declined 6.8%
in Nov 2015..... YUAN has fallen almost 6.5 % since August....
under the pricing model.. Chinese currency can theoretically drop 2% every day..
Rest pl refer attached article....
Its next to impossible to survive in Indian market unless you support with further price reduction...
PL think hard and support.... Unless you support .. very difficult to pull on GWI Business in INDIA.. i mean it..
Warm Regards and Deep Respects
happy every day