Patching up our textiles!

IIPM PUBLICATION

It’s time for small and mid-sized textile companies to cash in on the true benefits of the removal of quota regime; & for a change, perhaps concentrate more on domestic markets

With the removal of textile quota restrictions from January 1, 2005 – which allowed Indian companies unrestricted access to the US and European markets – the Indian textile industry is aiming for an export target of $50 billion by 2010 and a global share of 7% by 2012. Bracing well for this target, this sector has achieved a magnanimous export figure of Rs.613.21 billion for the period April-December 2006, at a growth rate of 7.67% (according to DGCI&S).

During 2006, overseas operations were on a high to tap the growing demand in the retail sector at home and globally. Global brands like Calvin Klein, Lacoste et al, penetrated further in the high-end market, while firms back home ventured into acquisitions abroad. To name a few – Welspun India bought 85% stake in British home-textile firm Christy, GHCL bought USA-based Dan River and Spentex Industries acquired Tashkent-To’yeota Tektfil of Uzbekistan.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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