Came to being in 1989, in India, Indo Rama Group today is an over Rs 22.18 billion corporation engaged in business activities in the field of Textiles, Polyesters and Industrial Chemicals. The company has been a leading manufacturer and supplier in the country’s fast growing polyester sector since the last two decades of its operations and is India’s second largest dedicated polyester manufacturer having carved a niche in the market place for its unmatched quality offerings. With a dynamic workforce of about 3,000 employees, this company has emerged as a lean, agile and supremely fit corporation in the face of economic liberalization and globalization and has a strong presence in Indonesia, Thailand, USA, Nepal and Sri Lanka, besides India. Born on 26th May 1949, Mr Om Prakash Lohia, CMD, Indorama Group, after completing his graduation from Calcutta University, joined the family business of Textiles and got the best of management exposure in all disciplines of Business Management. His utmost perseverance is displayed in his certitude and conviction in the future of polyester business, especially during the trying times of the Asian currency crisis. His revolutionary outlook is characterized by his eagerness to experiment with new ideas in modern management practices and advances in technology. Mr Lohia’s contribution to Indian Economy and Industry was well recognised with the Udyog Ratna Award from Madhya Pradesh Govt. and an Outstanding Personalities Award from Karnataka Employers’ Association. The SMART Manager has chosen him as “one of the top 25 managers of India” for steering Indo Rama into greater heights. In his role as Chairman of the FICCI’s Taskforce on Textiles, he strives for the benefit and betterment of the whole Textile Industry. He is the President of the All India Organisation of Employers (AIOE) and also represented the country, in the ILO conference held in Geneva. A humanist and a Rotarian, Mr Lohia always extends active support to the cause of Community Development, Education, and Sports etc. In his second appearance on Face2Face, Mr OP Lohia talks about present state of his expertise industry in India and worldwide.
Mr Lohia, thanks for opportunity of this exclusive talk one more time. "We are what we repeatedly do. Excellence, then is not an act but a habit," a highly inspiring tenet I must say. Being motivated with such an inspiring leadership, am sure your company would have reposed some more milestones since our previous talk in 2006. Could you please enumerate them?
We had an expansion of our plant which was completed in 2007 with an investment of Rs.1000 crores. The capacity has since been doubled to 6 lakh tonne per annum of polyester fibres and yarns. A recent foray has been into the energy sector and we have an installed cogeneration capacity of 82.5 MW. Immediate plan is to add another 48 MW. Even during the difficult 2008-09 period marked by global recessionary trends, adverse forex movements and highly volatile crude oil prices, the company reported positive operating profits. Currently we are witnessing signs of recovery in the domestic scenario with demand growth in the sector and some macro level stability.
Yes, I remember; our vibrant NEWS team has carried these financial highlights of your group. So, what is your derivation on present state of textiles industry in India and worldwide?
The Indian textile industry is more integrated with the world today than ever before. It is on its way to becoming a major global textiles and apparels sourcing hub with more and more international fashion brands increasing their sourcing from India. Though the recent years till 2007-08 witnessed continuous growth both in domestic and export markets, the global meltdown of 2008 did impact adversely. There are now signs of recovery. However, the industry may be required to wait for some more time for the full recovery and growth to happen.
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.