...Indian apparel market is expected to reach a value of INR 300,000 Crores, witnessing 12% growth by 2015.
Incorporated in April 1968, National Textile Corporation Limited (NTC) is a Central Public Sector Enterprise under the Ministry of Textiles for managing the affairs of sick textile undertakings, in the private sector, taken over by the Government. Starting with 16 mills in 1968, 103 mills by 1972-73, in the year 1974 all these units were nationalized under the Sick Textile Undertakings (Nationalization) Act 1974. The number of units increased to 119 by 1995 and 1 new mill purchased set up on land purchased by NTC in SEZ area in Hassan (Karnataka). These 120 mills were controlled by NTC(HC) Ltd with the help of 9 subsidiary Corporations, with an authorized capital of INR 10 Crores which was raised from time to time and which is now INR 5000 Crores and the paid up share capital of the corporation is INR 3062.16 Crores as on 31.03.2011 NTC is today a single company as against 10 companies in the past with the merge of 9 Subsidiaries with the Holding Company. Mr. K. Ramachandran Pillai is currently the CMD of NTC. He has 30 years of industrial experience both in private and public sector companies, including HMT Ltd., Hindustan Latex Ltd; BRPL the subsidiary of Indian Oil Corporation. He is also the Chairman of 5 Joint Venture Companies of NTC with leading private sector textile players. To his credit, Mr. Pillai has numbers of accolades and awards. To name a few – ‘NIPM Ratna Award’, ‘Delhi Ratan Award-2007’,’Bhartiya Shiromani Puraskar’-Excellence Award with Gold Medal, and ‘The Great Son of the Soil’. To make NTC a world class eco-friendly integrated textile company, catering primarily to the clothing needs of the nation, Mr. Pillai has been spearheading a total transformation of NTC involving financial restructuring; technology upgradation; and organizational delayering. In Face2Face talk, divulging details on these vibrant plans, Mr. K.R. Pillai also shares about his outlook on the industry with Ms. Madhu Soni- Sr. Editor & Correspondent.
Mr. Pillai, welcome to the Face2Face talk. Let us start the conversation with an overview of the global textile and garment industry today?
Sir, we understand there are lots of happenings at NTC also, regarding its repositioning. Please provide us a gist on it.
Why has NTC decided to foray into the sector of the Branded Apparels?
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.