Let the Reach Exceed Grasp
After the textile scenario having swung towards bad times more often in the last two years, things seem to be changing for the better now. A leading textile industry expert has recently said that, “The complete textile revival is just a matter of months.” The spinning industry does not have any stock at present and garment exporters have started getting more orders. The attractive exchange rate is helping textile exports since most of our exports are dollar denominated. But it is unfortunate that India’s textile machinery industry is able to supply machinery competitively only to the spinning sector. About 70% of textile machinery used in India is imported, with a substantial portion of this falling under second-hand machinery category, especially in the case of looms.
With the global and domestic economy showing signs of an upturn, Indian companies engaged in man-made fibre business are back reviving their expansion plans. Last year's slowdown had stalled 11 projects involving an investment of Rs 3,500 crore. Now, nine projects have already got the green signal and are poised for take-off. Exports in the second half are expected to improve with exporters receiving orders from the western markets. The textile and garment exports account for about $21 billion during 2008 - 09.,
As the market will open with opportunities, may be by the first quarter of next year, the industry should realise that the games of the past will not work out. It is going to be a talent intensive market where certain capabilities will dominate the market -- the capability to coordinate the dispersed supply chains through intelligent perception, improved technology and better management methods. Skilled trading capability, branding prowess, genuine value addition and innovation will all have to be at the forefront.
There will be no season-specific textile and apparels, and external factors will rapidly change scenarios, customisation and the web will play a more prominent role. The winners in the next round of global textile race will be only those who understand all these and dream that their reach will exceed their grasp.