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Chairman & CEO Yadu Nandan Fashions
Online Markets Have Boosted the Saree Industry
Surat holds a major share in the Indian saree manufacturing industry. Rinkesh Agarwal, Chairman and CEO of Yadu Nandan Fashions, a Surat-based manufacturer and exporter of sarees, talks about the vast saree industry with Fibre2Fashion.com
What is the size of saree industry in India? How large is Surat's share?
The textile and apparel industry can be broadly divided into two segments-yarn and fibre, and processed fabrics and apparel. India accounts for 14 per cent of the world's production of textile fibres and yarns (largest producer of jute, second largest producer of silk and cotton and third largest in cellulosic fibre). India has the highest loom capacity (including handlooms) with 63 per cent of the world's market share. The size of the saree industry in India cannot be perfectly calculated, but it is estimated to be around $20 billion. Surat could account for around 70 per cent of this market share.
Which is the biggest manufacturing hub for sarees? In which regions of the country is saree retailed the most?
There are many cities that manufacture sarees like Jaipur, Kolkata, Benaras, Bengaluru, Hyderabad and many more. But Surat is the biggest hub for sarees. There are many regions in India where it is retailed. In southern India, Chennai, Madurai, Coimbatore, Bengaluru and Hyderabad are the major cities in terms of saree retail sales. Likewise, Mumbai, Pune, Nagpur and Aurangabad are the top cities in western India; Indore, Raipur and Gwalior in central India; Kolkata, Patna, Ranchi and Bhubaneswar in eastern India; and Delhi, Kanpur, Jaipur, and Lucknow in northern India. Sarees are, however, not much in demand in northeastern India.
Which latest trend is dominating the saree industry today?
The advent of online markets has boosted the saree industry. Our reach has now widened to many new states and cities. We are able to sell all types of concepts and designs. By hiring a good team of designers, we are able to make different types of unique products-which is the latest trend in the saree industry of India.
What are the challenges facing the industry? What is your five-fold remedy to overcome them?
The challenges we are facing are the laws and regulations of textile authorities, where there are no rules for payment conditions, eligible buyers and suppliers, amount of production, etc.
Our five-fold remedies to overcome them are:
• Low-priced products with good quality
• Fixed payment conditions so that only genuine customers work under our roof
• Low production so that there is no stock loss
• Payment rotation so that we can use it many times with less amount of money
• Supply chain management to make products at the right time to avoid high expenses and market fluctuations.
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