Next 20 years are ours, India should do well
The golden era has already begun. India stands to gain a lot now because China is almost done. They are no longer a big name in the market. Our population is also growing and especially there are more & more young men & women under 30, which obviously will boost consumption of textiles in the coming decade.
Dilip Jiwarajka, CMD, Alok Industries
The golden era has already begun. India stands to gain a lot now because China is almost done. They are no longer a big name in the market. Our population is also growing and especially there are more & more young men & women under 30, which obviously will boost consumption of textiles in the coming decade. Next 20 years are ours. Whether in domestic market or exports, India should do well.
By 2015 we ourselves will be investing in some important areas like spinning, weaving and finishing. We have captive consumption of 150 tonnes of yarn per day, and about 250 tonnes are being sourced. This shows that there is scope for more yarn production in India.
The drivers of growth in future will be fabrics, especially home textiles. The future is in the exports of these textiles, particularly bedsheets, towels and furnishings. Polyester yarn and fabrics have good potential in the export market.
The US market for home textiles is big since the citizens there never reuse old goods and their buying power is big in this matters of home furnishing and other textiles. Even handkerchiefs, table cloths… all have a growing market in West. We are the No 1 exporters in bedsheets to the US and we will remain so in the next 20 years for sure. I am confident that all the capacities of various segments in textiles are poised to go up in the coming decade. Apparel fabrics including knits will have also promising future.
Technical textile will be playing a big role in the near future. Workwear, army uniforms and related products are in great demand, but quality is very important in these areas. Geotextiles growth will take some time. The profit margins in these high-tech clothes are also good and the volumes are set to grow in the coming years. Workwear and such technical textile products have also good scope in the export markets.
Unorganised sector cannot go for these products and only the big names can invest in these areas.
The Government is doing well with all programmes to boost production and consumption of textiles. The industry should respond well by meeting the challenges ahead. Textile parks, cluster approach, etc are all good moves by the Government. And with improvement in infrastructure, the country should be doing better in the coming decade.