Seminar on 'Evolving Trends in Management for the Textile Industry'
07 Mar '11
5 min read
Mr. Man Mohan, Chief Operating Officer, Polyester Sector, Reliance Industries Ltd. while addressing stressed that there is an opportunity to work end-to-end in the textile pipeline to satisfy the retail consumer. Retailers of today are aligning themselves to new consumer trends and have become far more demanding; they are interested in just– in–time delivery at their stores.
The present day consumer is having varied options in front of him. They want clear brand value and offerings. They connect with numerous brands. Even after purchasing, the consumers may remain engaged, publicly promoting or assailing the product's they've bought. So it is up to us how we project our products and create a bond with the customer to have a long term relationship instead of just a buy-sell deal, he added. Indian textile and apparel market, Mr. Man Mohan informed, has the potential to reach a size of USD 220 billion by 2020 with a CAGR of 11% from the current level of around USD 70 billion. The exports are likely to go up from the current level of USD 23 billion to USD 80 billion by 2020.
The major growth driver is the favorable demographics in India. India boasts of being a young country with a median age of around 26 years. With the emergence of a new and young consuming class, domestic consumption is expected to swell manifold. However, the challenge in front of us is to provide affordable quality products to the masses which are at the bottom of the pyramid. Also not to forget, this process has to be environmentally sustainable and economically justifiable, RIL COO pointed out. The companies which successfully re-invent themselves have one trait in common. They tend to broaden their focus beyond the financials and manage to track the competition in their industry. They continuously renew their capabilities and nurture talents to overcome competition. High performance companies need professionals who can grow a new business and not just manage an old one, Mr. Man Mohan added.
The Textile Association, Mumbai Unit has set a precedent by felicitating the textile professionals for their outstanding contribution in the field of textile industry. In this Seminar, the TAI Mumbai Unit felicitated Mr. Subodh P. Sapra, Former President – Polyester Sector, Reliance Industries Ltd, with The Life-Time Achievement Award. The Industrial Excellence Award was conferred on Mr. Manish Kiri, Co-Chairman, DyStar World.
In all, there were 8 technical papers presented during the seminar.
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