Home / Knowledge / News / Textiles / 'Textile industry to be back on track by 2010', MD, Nitin Spinners

'Textile industry to be back on track by 2010', MD, Nitin Spinners

27
Nov '08
Mr Nolkha, M.D, Nitin Spinners
Recession is a word abhorred by most economists, but it is here to stay and is affecting the lives of billions of people across the globe and also upsetting calculations and projections of most companies in the textile and apparel sector.

The meltdown resulting from the sub-prime crisis in the US has turned upside down the economies of the developed as well as the developing, more so of the under developed countries who were aspiring to jump to the next level in the status hierarchy of nations on the back of unprecedented growth rates in the last few years.

Fibre2fashion spoke exclusively to Mr Dinesh Nolkha, Managing Director, Nitin Spinners Ltd., Bhilwara, India to get his opinion on the crisis as well as his strategy to tackle the same.

Nitin Spinners Ltd is an ISO 9001 2000 company and a Government of India recognized Export House, manufacturing 100% Cotton Yarns and Fabrics. It adheres to stringent global standards of quality and has seen phenomenal growth in the last decade. Starting with one open-end facility, the company has grown into one of the largest producers of 100% cotton yarn and fabrics in India.

We started off by asking him his views on the domestic and global impact due to the global recession to which he replied by saying, “Yes, the global recession has hit the textile industry very badly both in international & domestic markets. The industry is witnessing a slow down in demand leading to reduced exports, pressure on selling prices and margin and production cuts leading to job losses.”

To another question on his company's strategy to sustain in such a situation, he spelled out the following measures taken by his company overcome the crisis like reducing cost of production at every point to remain competitive, maintain consistency in quality and control on rejection, running the plant at full capacity and the last but not the least the most important; reduce inventory and receivables.

Then we asked him the inevitable question as to how he foresees the future of the industry, to which he replied confidentially and positively by saying, “The future of industry is good as textiles are an item of basic necessity of people. Once the effect of global slowdown stabilizes, the industry will once again witness a decent growth rate. We expect that industry will be back on track by 2010.”

We at fibre2fashion hope on behalf of the whole industry that Mr Nolkha is proved right.

Fibre2fashion News Desk - India


Must ReadView All

Pic: NIST

Textiles | On 3rd Jul 2020

Multiple fabric layers improve cotton's efficacy in masks

The US National Institute of Standards and Technology and a...

Pic: Shutterstock

Fashion | On 3rd Jul 2020

Esprit to cut 1200 jobs, close 50 stores in Germany

International fashion house Esprit recently announced it will lay off ...

Pic: Shutterstock

Textiles | On 3rd Jul 2020

CSIRO team modifies cotton to make it naturally coloured

A team of researchers at Australia's Commonwealth Scientific and...

Interviews View All

Kamlesh Vaghela, RK Textiles

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Vidhyaa Shankar. S, A Ganapathi Chettiar

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Smith Vaghasia, Sanado India

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Ismail Ajani,

Ismail Ajani

Hollywood Footwear’s story began in 1946 when Jummabhai Ajani started the...

Sandip Bhojani, Manthan Patel,

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Riddhi Jain,

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Jacques Prigneaux, EDANA

Jacques Prigneaux
EDANA

EDANA has been the leading global association and voice of the nonwovens...

Kevin Young & Tom Lucas, Web Industries

Kevin Young & Tom Lucas
Web Industries

Web Industries is a precision formatter of nonwoven materials used in baby ...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search