Indian denim has become more competitive – Mr Shah, Arvind Ltd
August 28, 2009 - India
The denim sector in India witnessed a very depressing period in the last few quarters, but with news of a few European economies and Japan reporting an economic growth in the second quarter of 2009, this very important sub-sector has reason to be euphoric.
Denim, as a product is the single largest contributor by value from across all exports made from India and since the unfolding of the economic crisis, this very important category had reported a steep drop in shipments.
The biggest denim manufacturer in India, the Ahmedabad based Arvind Ltd, which has a capacity of 7.5 million meters per month is reporting of an increase in order book positions and have a good amount of orders in hand.
Mr Jayesh Shah, Chief Financial Officer and Director of Arvind Ltd
who spoke to Fibre2fashion
said that, “The denim demand globally has not increased in recent past, however, Indian companies, supported by depreciation of rupee, have become more competitive and are able get orders from customers who hitherto were buying from countries like Turkey, Mexico, China etc”.
“Compared to previous fiscal year, Arvind's denim business is expected to grow by 20 percent in the current fiscal year”, he concluded by saying.