Interview with Akshay Sharma

Face2Face
Akshay Sharma
Akshay Sharma
CEO
Magnum Resources
Magnum Resources

How strong is your dealer network, and what steps do you take to strengthen it?

We have offices in western India, and we are lining up the offices in southern India. Our focus is on northern and eastern parts of India for expansion. We are planning for offices in Bangalore and Kolkata. We are eyeing tie-ups and channel partnerships with renowned names in machinery manufacturing. Maharashtra and West Bengal are planning special textiles parks similar to those in Gujarat. Grasim VSF will be a strong value proposition as a fashionable fibre with the benefit of LIVA and LAFF along with Reliance Recron. We are also establishing our brand, Magnum. Manufacturing is to touch $1 trillion by 2025. The Gujarat government has announced a special incentive for the weaving sector. Those who already have spinning can put looms in the same premises, and they will get tax deduction.

What is the kind of focus on technical textiles at Magnum, now that it is being considered the sunshine industry? Which sector of technical textiles will Magnum concentrate more on?

Our focus on technical textiles is increasing, because we expect the government to offer special incentives for technical textiles. Mostly these factories are based in Maharashtra (near Pune), Vadodara and Andhra Pradesh. We are dealing with Miller Weldmaster and Fiab. We also have stitch-less technology from H&H, which can be put into practice in technical textiles also. The new textiles policy, which was expected by the end of April, will come now (Maharashtra has a special textiles policy for garments cluster-wise).

What are the new trends in machinery that one can expect?

The latest technology that we have integrated into our machineries and is bound to pick up pace is stitch-less technology and automation. Our machines can produce stitch-less undergarments in the synthetic fibres category. This technology is also possible for cotton. Laser technology is another upcoming trend in the home textiles and technical textiles machinery sector. Any type of cut is possible with this technology. Only home textiles is a product where 100 per cent automation is possible. We are associated with world's renowned companies in automation from Europe.

What are the new trends in terms of machinery for fashion embroidery?

Laser effect may be an emerging trend in terms of machinery for fashion embroidery. Whole portion embroidery and decorative stitch are also likely to rule this industry. Around 800 garment factories are coming in the Bhiwandi cluster, 500 in Nashik cluster followed by already sanctioned Kolhapur and Nagpur clusters. Big textile houses, along with us, will be supplying to these factories. We joined hands with DKTE (supplied Amaya Embroidery & Miller Weldmaster Heat Sealing m/c for Nonwoven under discussion) for Kolhapur and Sholapur clusters.

What was your growth percentage in the last two years? What is the expected growth?

We have been around since 2004, and our expertise was mainly in sewing machineries. We are fast growing in technical textiles. Our expected growth in the next two years is 25-30 per cent. As told to Mary Christine Joy
Published on: 06/06/2015

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.

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