Chairman and Chief Executive Arvind Mafatlal Group
The US and EU markets are still difficult, as consumer spending is still being constrained by limited disposal incomes.
With Fibre2Fashion Correspondent Cindrella Thawani, Hrishikesh Mafatlal shares us the glance of US and EU markets and to explore opportunities in other overseas markets such as South America, Vietnam and Africa.
In textiles Arvind Mafatlal Group has sprouted in, Denims (Mafatlal Denim Ltd.), Rubber Chemicals (NOCIL Ltd.), (Mafatlal Industries Ltd.) and Fluorochemicals (Navin Fluorine International Ltd.).
The AMG group has been in Textiles from 1905 and is one of the oldest Textile Companies in India.
Hrishikesh Mafatlal is the Chairman and Chief Executive of AMG. He is a Governing Council Member of N. L. Dalmia Institute of Management Studies & Research.
He was a Member on the Board of Governors at IIM Ahmedabad for 12 years from 1995 to 2007.
He is a graduate in Commerce (Honors) from Sydenham College, Mumbai in 1975. Further, he attended Advanced Management Programme at the Harvard Business School, USA, in 1993.
What kind of development and state-of-affairs you appraise for textile and apparel industry in Indian markets?
Due to country’s economic growth as well as surplus disposable incomes and with the rapid growth of retail; I believe that the textile and apparel industry of India will have a sustained growth in the coming decade.
The current market size of the textile and apparel industry is estimated to be 89 billion USD (4, 40,000 cr) of which 31 billion USD is exports and 58 billion USD the Indian domestic market.
The average expected growth rate for the textile industry in India is 9-10 percent over the coming decade (till 2022), by that time, market size will be at over 230 Billion USD.
This growth will present an opportunity for textile across the value chain such as fiber, yarns, fabrics, branding, designing and retailing. Besides, we expect to see new universities in design, fashion and technology in India.
How do you see that fabric manufacturing and retailing hand-on-hand could be a challenging task for the long run or cannot go together?
In my view, fabric manufacturing and retailing, need necessary moves hand-in-hand, as they form a supply chain for the end brand and consumer.
The success lies again in understanding consumer preferences and responding to that requirement by developing fabrics, creating attractive garments and then showcasing them on the retail shelves, hand-in-hand.
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