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'Revival of sector depends on govt support' – Cheslind textiles

Jun '09
We began by asking him the first question as to how would he rate the first quarter of the current year vis-à-vis the first and fourth quarter of 2008 and if it did see any signs of recovery, to which he said, “The first quarter of the current year vis-a-vis the first and fourth quarter of 2008, indicates signs of recovery but it is not stable on account of fluctuating dollar/rupee relationship and cotton prices which are not coming down”.

Next we gave him a crystal globe and asked him to foresee the rest of 2009, to which he optimistically said, “Looking at expectations and support from the new Government at the Centre, it is optimistic all around and rest of the year should be performing better”.

We concluded the interview by asking him about the steps the industry has taken to reduce the impact of the crisis, to which he explained by saying, “Steps taken by the sector to reduce the impact of the crisis, is not much in the hands of the industry because raw material cost accounts for approximately 60-65 percent of total cost of production, which has been highly volatile in the last few months.”

“Another important factor in cost of production is the power cost and we are suffering on account of power cuts, tripping and in-consistency in quality power supply. The third important cost is interest cost where again we are looking forward to have Govt.'s intervention for providing funds at reduced rate of interest and to provide additional funds for purchasing cotton and for taking care of the funds blocked in various incentives and benefits provided by the Govt”.

“Looking to all these factors, the revival of the industry depends much on the Government support as we at the industry level would continue our efforts for various cost reduction measures and maintaining quality and consistency of products to meet global competitive scenario”, he concluded by saying.

Fibre2fashion News Desk - India

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