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'Hand of God in resurgence of VSF sector' – Mr Maheshwari
21 Nov '11
4 min read
The International Conference on Manmade Fibre Textiles held in Ahmedabad had lined up an array of luminaries and top honchos who shared their knowledge of the textile industry and the manmade fibres textile industry in particular.
Guests of honour – Mr RD Udeshi – President (Polyester division), Reliance Industries Ltd, Mr KK Maheshwari – Director, Grasim Industries and Mr SN Modani – MD, Sangam (India) Ltd., were among those who gave special address at the inaugural session.
Addressing the delegates, Mr Rajen Udeshi, who is associated with Reliance industry since 1984, said, “While share of manmade fibres in overall fibre usage in developed economies has stayed stagnant between 55-60 percent during 1990-2010, that in the developing economies has galloped to 70 percent in 2010 from just 43 percent in 1990”.
“Asia constitutes for 80 percent of global polyester output and China and India will be the main growth drivers for the fibre. The Indian market holds high optimism for growth in per capita consumption of manmade fibres, since in India it is only 5 kg compared to 20 kg in China and 35 kg in North America.”
“Changing consumer preferences will be the main growth drivers for increasing fibre consumption in India, with favourable government polices, growing urbanization, rising incomes, fashion awareness and growth of organised retail sector lending a helping hand.”
“While polyester commanded a share of just around 2 percent in overall fibre demand in India in 1980, it skyrocketed to around 30 percent in 2010 and will jump to around 40 percent in 2020. Indian polyester output will grow from around 4.4 million tons in 2010 to around 12 million tons per annum, growing at a CAGR of between 10-12 percent”.
Mr KK Maheshwari, who is also the President of the Man-made Fibre Industry of India, began his presentation by saying, “There was huge decline in usage of viscose staple fibre (VSF) between 1970 and 1999, a period which witnessed share of VSF among other textile fibres falling from 9 percent to just 3 percent and was under threat of extinction.”
However it turned a full circle and rose like a phoenix from 2000 onwards and grew at a CAGR of 8 percent in the last decade. He attributed this phenomenon to “Hand of God” and to “new environment friendly technologies, innovation in downstream technologies, development of latest generation VSF fibres, paradigm shift from cost to value and many others.”
“The challenge confronting the VSF industry in the immediate future is the roller coaster global economic situation, while new technologies for products and processes, disruptive technologies and innovations, and new raw material sources will prove to be challenges in the long term.”
The next guest of honour to address the delegates was Mr Modani, who has a good insight and knowledge of the various textile markets across the globe. He gave a presentation on the Bhilwara textile industry. He said, “The turnover of the Indian textile industry was around US $60.5 billion in the previous fiscal, to which, the textile hub of Bhilwara contributed around $3.33 billion, including $440 million in exports. Nearly 65,000 people are employed in the textile industry in Bhilwara.”
Guests of honour – Mr RD Udeshi – President (Polyester division), Reliance Industries Ltd, Mr KK Maheshwari – Director, Grasim Industries and Mr SN Modani – MD, Sangam (India) Ltd., were among those who gave special address at the inaugural session.
Addressing the delegates, Mr Rajen Udeshi, who is associated with Reliance industry since 1984, said, “While share of manmade fibres in overall fibre usage in developed economies has stayed stagnant between 55-60 percent during 1990-2010, that in the developing economies has galloped to 70 percent in 2010 from just 43 percent in 1990”.
“Asia constitutes for 80 percent of global polyester output and China and India will be the main growth drivers for the fibre. The Indian market holds high optimism for growth in per capita consumption of manmade fibres, since in India it is only 5 kg compared to 20 kg in China and 35 kg in North America.”
“Changing consumer preferences will be the main growth drivers for increasing fibre consumption in India, with favourable government polices, growing urbanization, rising incomes, fashion awareness and growth of organised retail sector lending a helping hand.”
“While polyester commanded a share of just around 2 percent in overall fibre demand in India in 1980, it skyrocketed to around 30 percent in 2010 and will jump to around 40 percent in 2020. Indian polyester output will grow from around 4.4 million tons in 2010 to around 12 million tons per annum, growing at a CAGR of between 10-12 percent”.
Mr KK Maheshwari, who is also the President of the Man-made Fibre Industry of India, began his presentation by saying, “There was huge decline in usage of viscose staple fibre (VSF) between 1970 and 1999, a period which witnessed share of VSF among other textile fibres falling from 9 percent to just 3 percent and was under threat of extinction.”
However it turned a full circle and rose like a phoenix from 2000 onwards and grew at a CAGR of 8 percent in the last decade. He attributed this phenomenon to “Hand of God” and to “new environment friendly technologies, innovation in downstream technologies, development of latest generation VSF fibres, paradigm shift from cost to value and many others.”
“The challenge confronting the VSF industry in the immediate future is the roller coaster global economic situation, while new technologies for products and processes, disruptive technologies and innovations, and new raw material sources will prove to be challenges in the long term.”
The next guest of honour to address the delegates was Mr Modani, who has a good insight and knowledge of the various textile markets across the globe. He gave a presentation on the Bhilwara textile industry. He said, “The turnover of the Indian textile industry was around US $60.5 billion in the previous fiscal, to which, the textile hub of Bhilwara contributed around $3.33 billion, including $440 million in exports. Nearly 65,000 people are employed in the textile industry in Bhilwara.”
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