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Joint Managing Director Mandhana Industries Ltd.
Unlike textiles, you seem to target only the niche market in garment and apparel. Is that true? Please elaborate your answer.
Yes it's true that we are always looking to add more value to our business. In recent years textile business has got commoditized to a great extent and the companies are struggling to achieve a healthy bottom line with such a tough business environment. The neighboring competition like Bangladesh and Pakistan enjoy the benefits of falling under FTA agreement with the western countries (the import from these 2 countries is duty free into the western markets), resulting in India losing out on core business. We chose to focus more on specialized textiles and apparels which would fetch a better price in domestic and international markets. So our focus has always been being a design centric organization where we can fetch better realization for our products for being different and unique with our multi fibre product basket.
I would like to quote one of your earlier statements - "Most of the Indian exporters are US centric and hence in European markets, we don't have much competition from Indian counterparts." Are Indian exporters largely concentrated on the US market? Is European market a better option for Indian exporters?
Yes, it's true that the majority of Indian apparel exports are to USA for it being a bigger consumer market than Europe and its more basic and core in nature. In order to work with Europe which is a much more premium and design centric market compared to USA, companies have to elevate their product offerings by adding more innovation and being more premium, as europeans can pay a better price compared to americans.However, the american market is reviving again which is a good sign.
Somehow, over the years we have developed good relationships and rapport with a lot of top European brands and chains, resulting in our business being mainly concentrated in Europe but we are open to work in any part of the world provided we find good synergy with the partner.
You have bagged several awards and recognitions for the company in your tenure. What awards and recognitions do you target for the near future?
The awards and recognition have only encouraged and motivated us to excel further, as a company you create a certain benchmark for yourself, more awards and accolades will only help us to set better standards for us.
What advice would you give to budding textile entrepreneurs in the country?
The textile business can only be run with a lot of passion, teamwork and deep knowledge. It's very important to understand and get the basics right in order to run it efficiently. In this business if you have to create a great balance with all the important factors including technology, innovation, efficiency and execution in order to make it successful, and to top it all, a constant drive to experiment and create new ideas with product development. This industry also helps us to create more jobs which is required for a young nation like us.
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