Chairman & Managing Director Visagar Polytex
Trade stimulation by economic integration steps such as FTAs can increase India's competitiveness
We are engaged in textile manufacturing, wholesale, retail and trading business. Tilokchand Kothari, Chairman & Managing Director, Visagar Polytex, converses about the latest developments and achievements at the company.
Which key areas drive growth in your field?
We focus on the following core areas:
Strong focus on R&D, hiring and retaining the best creative staff to continue to be a trendsetter in this fast changing and dynamic industry.
Building a sales and distribution network and expanding client reach.
Increasing our captive production.
What are your expectations for 2016-2020?
We plan to cross 2 billion in sales.
What are the major highlights at Visagar Polytex in the past five years?
The top achievements during the last five years of this decade:
Establishment of Vividha as a nationwide umbrella brand for value based ethnicwear.
Setting up a manufacturing plant in Surat and reaching a capacity of 1 billion stitches per day.
Reaching a milestone of 1,500 client-base.
Surpassing sales turnover of ?500 million.
Establishing a thorough R&D centre to enable trendsetting collections season after season.
Expanding our retail as well as wholesale reach through increased market penetration and plans are on cards to have presence on pan-India basis.
What would be your suggestions to the union textile minister to improve the realm of textiles?
I would suggest although in the new policy funds have been sought under TUFS, disbursement of the said funds on time is critical as well, so that they can be utilised at the right moment. Another would be to initiate trade stimulation by economic integration steps such as FTAs to increase competitiveness with other countries.
What step needs to be taken to make India the next textile giant?
A thorough focus on the Indian textile manufacturing industry - in line with 'Make in India' initiative - which has a potential to do the same as had happened in China during the last two decades.
What has been the growth percentage at Visagar Polytex for the last five years and for the last fiscal year?
We have been growing at an average rate of close to 11 per cent in the last 5 years. We grew around 15 per cent (annualised) in the last fiscal.
What were the five major challenges you faced in the last few years?
The following were the major challenges:
Market conditions have been tough and unfavourable, straining our resources; however we sailed through and in fact registered good growth despite the odds.
The ever persisting seasonal labour availability and raw material procurement issues affecting production.
High rental values of prospective locations.
Inventory management - especially during the initial phase of our retail expansion.
Establishing the critical balance between centralisation and decentralisation which is crucial if we are operating in this highly unorganised marketplace.
Published on: 15/11/2016
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