Samir Joshipura: Kasturi cotton is set to redefine excellence in the Indian textile industry
Trident Group is a $1 billion plus Indian business conglomerate and global player. Headquartered in Ludhiana, Punjab, Trident is the largest terry towel and wheat straw based paper manufacturer in the world. Trident has frequently received accolades from its patron in recognition for delivering high quality standards and for its customer-centric approach. Samir Joshipura, Group CEO, Trident Group, in this interview with Divya Shetty, discusses the strategies to adopt in order to achieve the $350 billion target.
What according to you is the present state of the Indian textile industry?
While it is true that the Indian textile industry is confronting several challenges, it is also true that it is at the same time demonstrating remarkable resilience and adaptability in response to evolving market dynamics. The rising costs of raw materials, coupled with global economic uncertainties, have posed significant operational hurdles. However, the domestic market remains robust, with sustained demand for high-quality products, which continues to offer a solid foundation for growth. Government initiatives, including reduction in duties and focused efforts on skill development, have provided vital support to mitigate some of these pressures. While export growth has been subdued in recent times, the long-term potential for the sector remains promising, especially given the continued growth in domestic consumption. Considering these complexities, it is imperative that industry stakeholders adopt strategic innovations, invest in technology, and embrace sustainability practices. With the right approach, I am confident that the Indian textile industry is well-positioned to navigate these challenges and emerge stronger in the years to come.
The Indian textile sector has set an ambitious target of achieving $350 billion in market size by 2030. In your opinion, what are the significant challenges or barriers that could hinder this progress?
Achieving a $350 billion market size by 2030 is an ambitious goal for the Indian textile sector, but several challenges need to be addressed. The industry’s fragmentation, particularly among smaller players, limits scalability and efficiency. Rising operational costs, fluctuating taxes, and competition from countries like China and Bangladesh, which have cost advantages, further strain margins. Additionally, increasing demands for sustainability and compliance with global regulations pose significant challenges, particularly for smaller manufacturers. To overcome these barriers, a coordinated approach involving policy support, infrastructure investment, and a focus on innovation and sustainability will be critical to unlocking the sector’s growth potential. Moreover, technological advancements, including automation, digitization, and skill development will be essential for enhancing efficiency, productivity, and adaptability.
What opportunities do you foresee for the Indian textile industry as we move into 2025?
As we approach 2025, the Indian textile industry is poised to capitalize on several promising opportunities. A notable global shift toward sustainable and eco-friendly products aligns well with India’s strengths in producing organic and natural textiles. Additionally, the “China Plus One” strategy, adopted by many international buyers, is positioning India as a preferred sourcing destination, further enhancing export prospects.
Domestically, increasing disposable incomes and evolving consumer preferences are driving robust demand for textile products. Furthermore, government initiatives such as the PM Mitra Scheme are establishing integrated manufacturing hubs, which will significantly enhance productivity and global competitiveness. These factors collectively create a highly optimistic outlook for the sector in the coming years.
Kasturi cotton is set to redefine excellence in the Indian textile industry, establishing new standards of quality and sustainability. Bharat Tex 2025 has provided a key platform for introducing Kasturi cotton to global brands and buyers, driving its international presence and fostering long-term partnerships that will elevate India’s textile sector on the global stage.
How important is technological modernisation in enhancing our global competitiveness, and what more can be done to accelerate the adoption of cutting-edge technologies in this sector?
Staying abreast of technological advancements is crucial for maintaining competitiveness in the global marketplace. The integration of modern machinery and automation has the potential to significantly enhance productivity, reduce waste, and improve product quality. However, many small and medium-sized enterprises (SMEs) face challenges in accessing these technologies due to their high costs. To bridge this gap, it is essential to provide more accessible financing solutions and foster stronger collaboration between the industry and government. While initiatives like the Technology Upgradation Fund Scheme (TUFS) have made notable progress, expanding their reach and simplifying access can accelerate adoption. Ultimately, embracing new technologies is vital for securing the long-term sustainability of businesses in an increasingly dynamic market.
Besides, the Samarth initiative is designed to address technological gaps within the Indian textile market by implementing training programs focused on the skilling and upskilling of both new and existing workers. Furthermore, the Indian Institute of Public Administration (IIPA) plays a crucial role in supporting the industry by analysing market trends and advocating for investments in advanced technology. The IIPA also emphasizes the importance of policy development and the provision of training support to foster innovation and enhance industry competitiveness.
What measures should the government take to further strengthen the Indian textile and apparel (T&A) segment?
The government plays a pivotal role in shaping the future trajectory of the textile sector. Simplifying the tax structure and addressing issues such as the inverted duty structure should be prioritized to enhance operational efficiency. Additionally, expanding infrastructure through initiatives like the Scheme for Integrated Textile Parks can have a significant impact on industry growth. Strategic trade agreements with key markets, particularly in Europe and the United States, would strengthen the global competitiveness of Indian manufacturers.
A greater emphasis on research and development, alongside investments in technical education, could drive innovation, especially in emerging areas such as technical textiles and sustainability. Together, these measures, supported by consistent and forward-looking policies, can foster sustainable, long-term growth for the sector. Furthermore, the Indian government can accelerate the growth of the Textile and Apparel (T&A) sector by aligning its strategies with the Gati Shakti initiative, which focuses on enhancing infrastructure and connectivity. This alignment will reduce logistics costs, improve supply chains, and boost the sector’s global competitiveness.
Which emerging areas within the textile industry hold the most potential for growth?
The Indian textile industry is poised for growth in several promising areas. The demand for sustainable textiles is steadily increasing, both internationally and domestically, as consumers increasingly prioritize environmentally responsible options. Additionally, technical textiles, which serve critical sectors such as healthcare, infrastructure, and defence, present significant growth opportunities. The emerging field of smart textiles — integrating advanced technology with fabrics — is also gaining traction. These sectors not only provide access to new markets but also offer Indian manufacturers the opportunity to diversify and innovate. With strategic investments and a forward-looking approach, these segments have the potential to become the key drivers of the industry’s future growth.
