During the last quarter ending December 31, 2012, several textile companies in India have witnessed a positive growth. Arvind Limited, one of the largest textile and garment companies in the country, recorded revenue growth of 16 percent to Rs. 14.05 billion as against revenue of Rs. 12.08 billion in the last quarter.
Mr. Jayesh Shah, director and chief financial officer of Arvind Limited, said in a release, “We continue to be moderately bullish as far as the overall business scenario is concerned as the demand from domestic and international market for textile continues to be strong.”
Indian textile and garment industry, a key player in the national economy and the second largest employer of skilled and unskilled workers after#
Welspun India Ltd, part of the $ 3.5 billion Welspun group, announced 9 percent sales growth in the third quarter of the current fiscal year compared to same quarter in the previous year.
Mr. Rajesh Mandawewala, managing director of Welspun India Ltd, said in a statement, “Indian textile industry is in a favourable position compared to its major competitors, like China and Pakistan, helped by availability of surplus cheap cotton, comparable/lower labour and power costs, along with favourable government policies.”
Fibre2fashion News Desk - India
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