Interviews
Backward integration important for long term competitiveness - MD, SEL Group
07 Feb '11
5 min read
“In addition, the middle class in India is growing at a very rapid pace with a sizeable increase in discretionary disposable incomes from which a significant share will come to the textile industry also. FDI in retail is another factor which will change the way the Indians shop. This will give rise to increase in consumption helping the textile industry to grow. The estimates of growth of textile industry from the present level of $ 70 billion to $ 220 billion by the year 2020 may also prove to be an under-statement in the next few years.
“It is in this backdrop that we have planned and achieved speedy growth to be ready to take advantage of the huge opportunity ahead. We continue to be positive on the Indian textile industry and are hence building sizeable capacities to achieve global scale and competitiveness” he added by saying.
When asked as to how he foresees the domestic and global markets performing in the next 2-3 years, he noted, “We have a strong feeling that both domestic and global textile markets shall continue to grow and do well not only in next 2-3 years, but also for the whole of this decade. Especially, India has a great advantage in terms of abundant availability of raw materials, sizeable manufacturing capacity expansion, mature textile industry, large pool of skilled workforce both white and blue collar, fast growing quality infrastructure in the country, positive policy initiatives by the Government of India and ever growing demand for its products world over.
“We hope that India will become a major power in the global textile industry. Undoubtedly, Indian textile industry needs to prepare itself to get its legitimate place in the global market place. In order to achieve all this faster while the industry needs to improve on efficiencies and add capacities besides moving up the value chain, the government needs to continue to take conducive policy initiatives”, he wrapped up this very informative interview by saying.
“It is in this backdrop that we have planned and achieved speedy growth to be ready to take advantage of the huge opportunity ahead. We continue to be positive on the Indian textile industry and are hence building sizeable capacities to achieve global scale and competitiveness” he added by saying.
When asked as to how he foresees the domestic and global markets performing in the next 2-3 years, he noted, “We have a strong feeling that both domestic and global textile markets shall continue to grow and do well not only in next 2-3 years, but also for the whole of this decade. Especially, India has a great advantage in terms of abundant availability of raw materials, sizeable manufacturing capacity expansion, mature textile industry, large pool of skilled workforce both white and blue collar, fast growing quality infrastructure in the country, positive policy initiatives by the Government of India and ever growing demand for its products world over.
“We hope that India will become a major power in the global textile industry. Undoubtedly, Indian textile industry needs to prepare itself to get its legitimate place in the global market place. In order to achieve all this faster while the industry needs to improve on efficiencies and add capacities besides moving up the value chain, the government needs to continue to take conducive policy initiatives”, he wrapped up this very informative interview by saying.
Fibre2fashion News Desk - India
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