With orders diverting to India, Mandhana eyes rise in exports

Sourcing orders from international brands are being diverted to India due to the ongoing political turmoil in Bangladesh and rising labour and production costs in China. Mandhana Industries is looking to cash in on this opportunity.

While GSP and tax benefits to EU gives an advantage to Bangladesh and many brands are continuing to source from the country. However, with India offering stable and consistent supply RMG makers here are gaining attention. A rise in product prices in China is also favouring Indian exporters.

Declining cotton prices have brought down raw material costs and Mandhana expects this situation to help improve profitability. The company is looking forward to a growth of another 12-15 percent this fiscal. The company has also applied for de-merger and it is in the process of forming a new company called Mandhana Retail Ventures which will purely focus on retail business. Being the manufacturer and retailer of apparel brand Being Human, backed by actor Salman Khan’s Being Human Foundation, the company has chalked out robust plans to grow this business. The company expects Being Human to witness a compounded annual growth rate of about 40 percent year-on-year.