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Atchutuni L N Rao
Sr. Vice President & Head of Specialty & Performance Chemical Division Indofil Industries
India needs a special export policy for textiles
Indofil has a strong domestic base and a well-recognised international presence. Both businesses viz, agricultural chemicals and specialty and performance chemicals, are poised for faster growth globally through partnerships and joint ventures for manufacturing, marketing and research and development. Atchutuni L N Rao, Senior Vice President & Head of Speciality & Performance Chemical Division, discusses the plans of the company.
What in your opinion must be the one critical step that must be taken to ensure India emerges as the textile giant it shows the potential to be?
As domestic demand will be steady and will grow, maintaining and boosting export growth is the key factor which can help India emerge as a textile giant. The textile ministry should draft and implement a special export policy for textiles which will not only increase the presence in international markets but also lead to more job opportunities in the country. Trade agreements with various countries can leapfrog the export business which is the key to increasing business.
What will be your suggestions to the Union Textiles Minister on the expected Textile Policy?
Finalisation of Free Trade Agreements with top buying countries as well as neighbouring countries will boost the growth.
Which important areas in your industry will boost growth?
Our major focus areas to drive growth are the emerging international market, technical textile, reactive and pigment printing, and value added coating.
Which three steps could ensure growth in your niche?
The Make in India slogan initiated by the present government will result in many new technologies and products being implemented in India. This will help us to expand our business areas.
According to some eminent experts, India is poised to grow at a CAGR of 13 per cent for technical textile industry till 2050, which is one of the fastest across all sectors. This will also help us to continue our growth as per our projection.
Expansion of international business in emerging countries will also fuel growth tremendously to meet our target as per our plan.
What has been the growth percentage at Indofil Industries in the last fiscal and for the last five fiscals? How is your niche evolving?
We have been growing at a steady rate since last five years at a CAGR of 25 per cent. Last fiscal the growth rate was 30 per cent, compared to previous years.
Textile and textile chemicals are evolving to meet more stringent requirements of global demands set by various authorities which are adopted by major nations. We need continuous innovation to meet those requirements so we can offer what is sought by most environment- friendly norms.
Fulfilling the increasing demand for supply during the major growth period has been a challenge for us although this has been resolved and streamlined.
Expansion of our state-of-the art Dahej plant will further fulfill future demand sufficiently to maintain projected growth in the coming years.
What were the highlights at Indofil Industries in 2015?
2015 was a happening year for us. We were able to enter into many new avenues of technical textiles which have reconfirmed our strong presence in this emerging sector. We started a new business which boosted our confidence to move forward unflinchingly.
What have been the major achievements at Indofil Industries in the last five years?
Indofil has done exceptionally well in last five years in their textile division as focus has been made to make it a successful and sustainable business. The major achievements were:
Establishing ourselves as one of the top printing package suppliers.
Creating a strong image in the customer's mind to be a reliable supplier for technical textile chemicals.
Expansion of high performance products apart from the existing acrylic chemistry.
Strengthening the business module to suit the growth of the division as per the market requirement.
Increasing the presence in international market is another feather in the cap for our division. We have significantly expanded our presence in major textile markets like Bangladesh, Sri Lanka, Latin America and other emerging markets.
If given one wish to change something in your niche, what would it be?
Facilitating in-house development of high end fabric for defence and other technical requirements will help us save our exchequer.
Published on: 12/10/2016
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