We can see a stable and substantial opportunity for growth in the textile chemical sector.
Resil, a developer of unique solutions for industrial applications, turns everyday fabrics into a treat for the senses. In a conversation with Fibre2Fashion, Siddarth Kumar, director of Resil, talks about the Indian textiles chemical industry and the performance of the company.
How was the response to your symposium that was recently held in Bangladesh?
This symposium can be characterised as the coming together of a new generation of textile experts and provided the perfect platform for a networking opportunity for attendees. The event not only illuminated the changing paradigms in the textile industry but also helped us connect with the key decision makers and industry leaders in textiles in order to share ideas about trends in textile processing and foster better industry cooperation.
What is the market size for textile chemicals in India?
Owing to the highly fragmented market with a large unorganised sector, it is difficult to stipulate the market size for textile chemicals in India today, but we believe India to be one of the fastest growing textile sectors in the world.
The global textile market was $19.3 billion in 2012 and it has been estimated to grow 4-5 per cent each year, and it is safe to say that India and China are forecast to share that margin.
What percentage of your revenue is generated from the textile segment? What is the percentage share of the Indian textile industry in your total revenue?
The revenue generated by our textile segment can be estimated at 65 per cent and holds a 12 per cent share in the Indian textile finishing and auxiliary chemicals.
Which are your major international markets?
We are present in Bangladesh, Sri Lanka and South East Asia.
How is the textile chemicals industry performing in India and in international markets? What are the factors that are influencing the growth of the sector?
Owing to the rapid emergence of the textile market in India, we have observed a proportionate growth towards the textile chemical market. Keeping in mind the potential growth of the textile market in the years to come, we can see a stable and substantial opportunity for growth in this sector.
Factors that influence the growth of the textiles chemical industry are stability of Indian rupee versus the US dollar, stability of input prices like cotton and electricity and strength of the export demand and global economic conditions.
Tell us about the latest sustainable textile chemicals by Resil.
We were the pioneers in innovative textile technology with our anti-odour garment technology, N9 Pure Silver. Understanding the present pain points of our users we soon realised that we needed to innovate to maximise wearer comfort, resulting in Resil's drive for innovation.
Resil Chemicals prides itself for the time and effort into the research and development of these environmental friendly innovative and intelligent fabric technology products, and extensive testing have proven them to be highly effective.
Most denim manufacturers rely on potassium permanganate (PP), a strong oxidative agent used primarily to bleach the substrate denim fabric to produce a desired finish. The denim industry in India approximately functions with 50 tons/year of PP for their finishing needs, but drawbacks such as adverse effects on health on excessive exposure, causing irreversible hardening of water and respiratory disorders renders its substantial demerits to give reason for suitable replacements. Resil's replacements for PP are a viable alternative to PP bleaching. They contain a specific combination of neutral salts and polymers that are functioned to achieve localised colour dismissal effects such as whiskers and natural and thigh abrasion when applied to the fabric.
Coolit, Neu Dri and Soladel technologies by Resil turn everyday garments into a treat for the senses, leaving them cool, dry and clean.
How has the company's textile department performed in the last two years? What are your expectations from the department for the next two fiscals?
We have done extremely well in the last two years. We have seen high double digit growth and as for the next two years we are bullish about growth in South and South East Asia.
What challenges did you face while manufacturing textile chemicals? How did you overcome those challenges?
Challenges we faced while manufacturing textile chemicals include innovation of sustainable and eco-friendly products, regulatory and stringent quality norms and customisation of products catering to individual customers with adaptable volumes.
We resorted to state of the art manufacturing facilities that comply with international standards and emphasised not only on product innovation, but also process innovations to overcome these challenges.
What are your expectations for the company for the year 2017?
We look to aggressively orient towards growth in India and our international presence in the coming year.
Having a strong backbone of being an innovation driven company, Resil also focuses on new intelligent, environmental friendly textile finishing and auxiliary products that will revolutionise and set an inventive thought process in the textile chemicals market.
What are your views about demonetisation? How has it affected your company?
The current demonetisation-driven cash crunch has resulted in a short-term economic inconvenience in the form of the transactional hit created by a hard cash deficit and a structural hit to non-tax paying businesses that would become unviable.
However, when you look at the long-term impact of these steps, we can surely look at a cleaner economy, cleaner ethics and a better GDP.
Published on: 09/01/2017
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.