Once again, Face2Face extends its warm welcome, Mr Gupta! How if we begin the talk with a piece of information from you on the business faring presently at Trident Group and also about the change your group has gone since 2006 – year when we had our previous talk on this channel?
At Trident, we have grown through the years, by questioning existing paradigms and by challenging assumptions. We also believe that success is the outcome of continuous improvement, perpetual edification and sustained reinvention. In the last few years we have conscientiously focused on and undertaken various resource-building initiatives like Capacity Expansion and Modernization, Corporate Governance, Stakeholder Engagement and a well researched shift towards Technological Excellence. We have set up the world’s largest wheat-straw based paper mill and expanded our Yarn facility in Budhni, M.P. Our project of the second phase of expansion at Budni, to take the total number of spindles to 1, 00,800 involving a total capital outlay of Rs. 3737 million is on track.
Impressive! But the year bygone had been very challenging for all industries across the globe. What say?
I am totally in agreement with you that the industry is getting challenged day by day and I am sure challenges are not over yet and they would continue but of different nature this year. Last year, it was recession in the market to which I must say Indian industry has coped up very well by really showing strong release in terms of value-additions and strong conviction towards bettering quality and cost. This time the challenges would emerge out of input cost, especially- Cotton prices.
So, how would Trident fight this challenge?
First of all, this is not just Trident’s challenge but one that every industry is going to face. And the challenges are not what we decide; the ultimate decision is going to lie with the customers & buyers. Practically, it has to be well discovered what we can do best for our customers and understand how customers are really willing to compensate for that; and this can’t happen over night.
Mr Gupta, your sector of home textiles has transformed from ‘festive-time purchased item’ to ‘life-style purchase’ proposition. Isn’t it? What do your findings say on current trends and movements in home textiles industry of today?
Yes, today the home textiles have transcended from the festive-item to a lifestyle product. With changing trends in purchasing behavior there has been a shift in the home textile industry as well. Gone are the days when people only invested on apparels, in fact the home décor gets its fair share of attention when it comes to investment. Every member of the family has his/her own space and wants to change its mood with every season. The home is where the consumer spends most of his time and is willing to make investment more than ever.
Your group is also amongst one of India’s largest yarn spinners too. So, what is expert’s say on present movements in this sector?
Yarn obviously is going to be moving towards north, and prices would be up, because when it comes actually to the cotton prices there is no second opinion about that, for otherwise yarn industry would have to really pass on the prices to the consumers. So, let us see at the end of the day how consumers are able to get resolved- either with cost reduction or better price- here better prices may be interpreted in terms of adding more knowledge or services to the product.
And, what is your opinion about recovery from crisis? Are these clouds slowly sailing away?
Actually speaking, I don’t believe in economic crisis and such things; unless they are some unforeseen natural calamities or so! Since these economical swings are part and parcel of industrial life, I don’t consider them to be blown away or to get over; for they come in one form and go in another form; so it is just the form that is transformed, but challenges remain. And hence industry has to face a new form of challenge every now and then. There are challenges when things are in surplus and challenges when things fall short. A challenge emerges when prices go high and challenges come when prices go down. So every situation is as demanding and challenging. Therefore, I believe these are just the dashboards on which industry is cut and made for.
Now, turning our discussion to bottlenecks of Indian textile industry (those other than present recessionary upshots); what all facts would you like to enlist?
Well industry of textile is by and large a commodity industry, and by and large driven by less knowledge workers in the organization too. So I think foremost challenge industry has to overcome is to deploy knowledgeable people on their technology as on their raw material, so that they can produce better product which could further be appreciated by customers and these customers in turn would like to pay better. Industry needs the know-how to convert the commodity into brand, and to convert quality into the specialized product. I see a knowledgeable workforce and absorption of better technology and infrastructure as the need of today’s industry!
Your Group has also forayed into Retail segment by launch of ‘Trident Homescapes’. Concluding talk here, can we know from you more about developments of this wing?
We have put on hold our expansion in the retail sector due to the last year recession and non-conducive environment of the organized retail sector.
Thanks a bunch for insights, Mr Gupta! Face2Face looks forward to the opportunity of speaking to you again soon!
You are most welcome!!
####### Click here to view previous interview.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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