Home / Knowledge / News / Textiles / Prospect of textile industry looks quite promising – Alok Industries
Prospect of textile industry looks quite promising – Alok Industries
01
Dec '08
Sunil Khandelwal, CFO, Alok Industries
Sunil Khandelwal, CFO, Alok Industries
Following the global market meltdown, textile industries across the world, are easing their stress by cutting back production and laying off employees.

Major players of the Indian textile industry believe that the current situation would further affect adversely in the second half of the ongoing financial year. India has set export target of US $200 billion for the fiscal 2008-09, but market experts are in doubts that the country will not be able to meet the target in the wake of global recession.

However, few companies are not much concerned about their export status. One of them is textile major Alok Industries.

Elaborating on this context, Sunil Khandelwal, Chief Financial Officer (CFO), of Alok Industries, told Fibre2fashion, “The Company's order book position is very good, both in the domestic market as well as exports, with orders for next 4-5 months aggregating to about Rs7500 million in hand. There are also good amount of enquiries in the pipeline, which we expect to convert into orders.”

Discussing how to get through the current situation, the CFO stressed, “There is an old adage that in every adversity lie the seeds of opportunity. It is only in the challenging environment that one learns the best lessons of life. Every business passes through various cycles, good and difficult but the silver lining is that difficult times also pass through.

“Challenging time like these, present an opportunity to look into the business very closely, remove inefficiencies, rationalize expenditure (control costs) and look at alternate products & markets.”

The environment though looking tough, of late has become quite encouraging for the textile companies. The following facts will prove that, Alok CFO goes on saying.

For India, the present situation has definitely created an advantage over Competing Countries.

Appreciation in Chinese currency coupled with increase in their labour cost has made them lose the cost advantage and competitiveness. Also buyers are looking at viable alternate to China to de-risk sourcing.

Uncertain economic conditions in the neighboring countries have shaken customer's confidence for timely delivery of consignments. Thus many countries shifted their orders to India.

This scenario has brought promising prospects for Indian Textile Industry.

Slowdown in USA and Europe has led to increase in demand for basic products as against products in the luxury segments. Discount stores like Wal-Mart have witnessed higher volumes. India has been traditionally catering to the medium and lower segment of the market, thus witnessing higher volumes.

During April to September 2008, ready made garments worth $4.87 billion were exported from India, up 7.04 percent from $4.56 billion in the corresponding period of previous year. In rupee terms, the figures work out to Rs207.6 billion, up 11.47 percent from Rs186.31 billion in April to September 2007.

Must ReadView All

Textiles | On 28th Mar 2017

India may impose duty on elastomeric filament yarn

The Government of India is likely to impose anti-dumping duty on...

Courtesy: Lee Cooper

Apparel/Garments | On 28th Mar 2017

CCI clears FLFL proposal to divest Lee Cooper

The Competition Commission (CCI) of India has approved the proposal...

Textiles | On 28th Mar 2017

Bardoli CEFC to benefit south Gujarat MSMEs

India’s first common engineering facility centre (CEFC) at Bardoli,...

Interviews View All

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search