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Interview with Vinod Kumar Gupta

Vinod Kumar Gupta
Vinod Kumar Gupta
Managing director
Dollar Industries Ltd
Dollar Industries Ltd

Re-engineering raw material policies could help us grow
From being a small hosiery brand to a leading name in innerwear, Dollar Industries Limited has focused on excellence in cost, quality and productivity. Today, Dollar is among the largest hosiery and garment manufacturers in India. Vinod Kumar Gupta, Managing Director, Dollar Industries Limited, shares his views on GST, availability of skilled labour and policies that can provide an impetus to the Indian textiles industry.

Which major sectors in the Indian textiles industry need immediate government intervention?

The first space where the government can contribute is in developing a suitable atmosphere for attracting huge investment. This would be followed by proper training and development of skilled labour, reforming labour laws, diversification of exports in terms of products and markets, and encouraging innovation and R&D.
 

Which are the major markets for Dollar products? Which new areas do you plan to explore?

Our major business comes from tier-I and tier-II cities. Even though we are present all over India, we are now exploring rural markets more aggressively. Which are the major markets for Dollar products? Which new areas do you plan to explore?

Which points of sale are working well for Dollar Industries: online store, online marketplaces, or offline stores?

Brick-and-mortar stores are our strength. We have 85,000 retail outlets in 26 states of India. We are also planning to come up with our own EBOs soon. We have our own e-retail site, dollarshoppe.in where we sell our products. Our products are also available on popular online marketplaces like Snapdeal, Amazon, Flipkart, Ebay and Voonik.

As a private enterprise, what is the kind of governmental help that will advance growth in your space?

Raw material plays a major factor in our field. Reengineering existing raw material policies could help private companies like us grow.

Which three factors will have major impact on the industry's performance in the years to come?

Automation, raw material and skilled labour will have a major impact on the textiles industry.

Does Dollar Industries plan to introduce a new product category or expand its capacity?

Today's consumer is spontaneous and selective. That is the reason we experiment with our existing products and spent a lot of time and money on R&D in introducing new products to our customers. (HO) Does Dollar Industries plan to introduce a new product category or expand its capacity?

How do you see the Indian textile industry evolve in technology by 2020?

How do you see the Indian textile industry evolve in technology by 2020?The Indian textiles industry is growing faster than predicted. Technology will play a major role in  this growth. The more organised this sector gets, the more we will see the involvement of machines and technology.

Dollar Industries got listed on NSE last month. What kind of growth and expansion are you looking at?

We have been doing better than industry standards. Being listed on NSE was another feather in Dollar's cap. New product diversification and establishing our own EBOs will get top priority in our expansion and growth plans. Dollar Industries got listed on NSE last month. What kind of growth and expansion are you looking at?

What impact will implementation of GST have on your business and on the Indian garment industry?

Apparently, there will be no major impact on the factors concerning cost and pricing for a brand like us in the hosiery segment. Local or regional players will be the affected segment. If local players do not come under this taxation scheme, a huge prospect will be open for us to sway their market share soon.
Published on: 03/07/2017

DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.

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