How do you see recent depreciation of INR against dollar as a challenging or an opportunistic aspect for the Indian textile industry?
Depreciation that we have been seeing in the INR against the US dollar is a challenge that we are facing. The rising import costs of oil and other commodities will definitely add up to our already steadily increasing input costs at all levels. However, this does give us an opportunity to be more competitive in the global markets.
How do you see the purchasing sense in overseas market? Accordingly, in which regions you will be catering as well as which regions you believe can give well-built consumer connection?
As I mentioned earlier, the mood overseas is somber and cautious. The unpredictability of weather around the world has added woes to retailers and consumers alike. At the moment we intend to keep the focus on the European Union, which has been our market for exports.
The domestic market is where we will concentrate on with our retail venture. We intend to start with the Metros i.e. Mumbai, New Delhi, Bangalore, Chennai and Calcutta.
Further, we will then move inwards by taking it in the mini metros like Ahmedabad and Pune and then the Tier-1 and Tier-2 cities.
Furthermore, what challenges do you foresee in the current scenario?
Inflation, by far, is the biggest challenge that I see in Indian economy is struggling with. We have not been able to bring it under control to a manageable level.
The India shining figures of 8.5 to 9 percent year on year annual growth in GDP are set to dip to the levels of 6 to 6.5 percent. And, this with the bad monsoons is surely going to dampen the mood. However, consumer spending will reduce.
Your current plants are running with peak capacity. How are you amplifying your position? Besides, how much you have outsourced?
We have just finished expanding our capacities in the weaving and textile processing sectors and that seems adequate for the moment. In the garment manufacturing sector, however we are outsourcing about 20 percent capacity.
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