Looking to increase its export by 40 percent, Mumbai-based textile company, Alok Industries, has set a target of Rs550 crore in current FY.
The company worth 1,400 crore has added one more export destination in its kitty as it expects to supply 2 million metres of fabric worth $3 million (Rs13.5 crore) to Czech Republic.
At present, it exports products to 50 countries that include US, Latin America, European Union, Sri Lanka, Bangladesh and Nepal and in addition to get a hold in Middle East and Far eastern nations.
Out of Rs394 crore exports in FY, 2006, more than three-fourth (Rs306 crore) belongs to home textile segment.
US had a share of 90 percent in company's exports, which has now fallen to around 60 percent indicating the fact that company is looking to widen its network.
Company while looking to reduce the American share in exports below 50 percent, wants to increase the export figures. It says that US markets will still remain the primary location.
Company is also positive in the home textile segment considering the current upswing in housing sector in country.
Manufacturing capacity of company in apparel fabric segment is 82.5 million metre per annum, knit fabric 16,800 tons, home textiles 60 million metre, polyester texturing 85,000 tons and garment 7 million pieces annually.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
