President Sutlej Textiles and Industries Limited
India’s share in the global home textile market is expected to rise from 7 to 10 per cent
Sutlej Textiles and Industries is one of the largest integrated textile manufacturing companies and is strongly positioned in the production of value added synthetic, natural and blended yarns, spun yarns, processing of fabrics and home textile. SK Khandelia, president, Sutlej Textiles and Industries, exchanges his views on the growing opportunities for the Indian textile industry.
As a private enterprise, what is the kind of governmental help that will advance growth in your field?
The ministry of textiles is helping the Indian textile industry meet the emerging global challenges and opportunities and commit itself to meeting and exceeding the expectations of all its stakeholders by building on its previous efforts and by implementing this forward- leaning strategic plan.
Recently, the union cabinet approved a set of reforms, including simplified labour laws and technology up gradation for the made-ups sector. "The interventions are expected to boost employment in the textiles sector and create jobs for up to 11 lakh persons, lead to increase in exports and enhance benefits to the workers in the textiles and apparel sector," said an official release. These incentives are part of the Rs. 6,006 crore packages announced for the apparel sector in June.
How big is the market for home textiles internationally? What percentage does India claim in it?
Home textiles segment has become one of the most attractive segments in the textiles industry in the recent past and has emerged as one of the most fashion sensitive segment in the textiles industry. After witnessing sluggish growth phase during financial crisis of 2008, home textiles segment has shown signs of recovery and registered considerable growth in past few years. Retail value of home textiles segment is estimated to be around $107,236.7 million in 2014 and is expected to reach $131,499.9 million by 2020 growing at a CAGR of 3.5 per cent.
US and EU, which are the main consumption centres, are gradually but steadily coming out of a recessionary phase. Buyers are back in stores. Apparel and home textile consumption is picking up.
Going forward India's share is expected to rise from 7 to 10 per cent and is expected to be biggest beneficiary as Chinese industry reaching its peak.
What percentage of yarn and home textiles manufactured at Sutlej are sold domestically and exported abroad?
The company has identified exports as its preferred area. It has been exporting to over 60 countries and has established relationship with overseas buyers. The company is having three star "Trading House" status granted by Directorate General of Foreign Trade. In order to remain competitive in the international market, management has taken special care to maintain quality of its products which has been well acknowledged by its customers. This is also evident from the substantial export performance of company.
For fiscal 2016 and the half year ended September 30, 2016, our total export revenue as a percentage of total revenue was at about 26 per cent. In home textile segment, the contribution of exports in total revenues is exceeding 35 per cent.
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