Petrochemicals, Fibre, Fabrics, Garmenting and Retail; a complete value chain all under single banner – The Chiripal Group. It is immense pleasure for Face2Face to get the opportunity of a talk with you Mr Ved Prakash! They say -Rome was not built in a day; how long and what all it took to be the present Chiripal Group?
I made a humble beginning in Ahmedabad with few powerlooms in 1972. Today, Chiripal Group of Companies, with turnover of over US$ 325 million (Rs 1500 Crore) has acquired an eminent position in India as integrated textile house focused on delivering the best products by continuous R & D, defined processes, stringent quality policies and state-of-the-art technologies.
Thanks to my long time associates and colleagues and especially the successive governments and people of Gujarat, who gave me conducive environment and walked with me to buildup a world class business conglomerate.
The manufacturing facilities in my group are supported by dedicated, experienced and competent experts to ensure that the products or services delivered to the customers are the best. We are in diversified business in the fields of petrochemicals, spinning, weaving, knitting, processing, chemicals, infrastructure, realty and education which offer employment to more than 20000 people associated directly or indirectly with the Group.
Recently, we have entered into 2010. Do you think global textile industry has seen a well-begun dawn and doing fine currently?
The global textile industry, in fact has not yet come out of catastrophic recession that has majorly affected Europe and USA- the biggest consumption markets for textiles. Unless, these markets show some positive sign and come out of recession, the textile industries in several countries like India, Bangladesh, Pakistan, and Vietnam are sure to suffer. However much we say that we have alternative markets like Latin American and African countries, the fact is that USA and Europe have very large consumer base, who change their wardrobe with change of fashion and season. Consumers in other part of world use a pair of garment for many years. Indeed, we await turnaround in US and Europe to revive demand for clothing, textiles and other consumer goods. In actual sense we will see the dawn for global textile industry consequent to economic turnaround in USA and Europe.
So, in your estimation when that dawn is likely to break?
Very recently we have seen that PIIGS countries viz Portugal, Italy, Ireland, Greece and Spain are in problem as their GDP is no match to their mounting debts and they are on the verge of Bankruptcy. Dubai, a major commercial hub has been saved for time being with the positive intervention and support of Abu Dhabi. I do not foresee the early recovery or revival in Europe. In US also the figures are not very positive to indicate the turn around to be in near future. Thus, I presume it will take at least a year to initiate recovery in economy.
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.