- Meenakshi Kumar |
Optimistic about market scenario, Aniruddha Deshmukh, MD & CEO, Mafatlal Industries says “We really see a good opportunity in the market.” Mafatlal does B2B and B2C trade and also direct selling to end consumers. He says “These days, consumers are attracted towards innovations. They come to the market to see new offerings. In fashion business, you can’t sell if the product is the same as trends change fast and you have to keep pace with this change. You are supposed to innovate consistently,” Deshmukh explains.
Innovations, the way ahead
Deshmukh says in women’s wear, there are a lot of prints in the market. Viscose has good demand. “In denim, we are making good movement. We are seeing growth in high-end fashion denim.” Similarly, in white fabric, people are looking for more varieties. Mafatlal has introduced dobbies keeping demand in mind.
Talking about maintaining lead, he adds, “There is distribution channel since we are into B2B and B2C both, we have to be aligned with brands and end consumers. Supply and value chain is another area to work on. Supply chain efficiency and on time delivery matters a lot to stay ahead. Competition is there, all you need to do is find your niche, and start dominating the market.”
Mafatlal Industries is into denim and shirting, as well as school uniform and ready to stitch clothing. “In shirting, we are the leader in white fabric category, which is used for shirting, kurta payjamas etc. Then comes polyester cotton and cotton blends, we do fair amount of prints too such as cotton and viscose prints. We are number one in school uniform segment. We do corporate as well and are leading in this segment. And we are well established in ready to stitch segment,” informs Deshmukh.
Domestic demand a big plus
Since textile does not come under any taxation, the only uncertainty is GST and its applicability on the sector. Rest everything is almost certain, opines Deshmukh. The sector has potential as textile is an essential sector and has to grow. What is needed at this point is how we can generate more employment and contribute to the growth of the sector. “The government is taking a number of initiatives for the betterment of the sector, especially garment sector. States are setting up textile parks and policies to encourage growth,” he avers. Talking about other Asian competitors he says, “Countries such as Bangladesh and Vietnam have big scale setups. They are connected well with overseas companies, and are doing a good job. But the fact of the matter is they don’t have domestic demand and this goes to our advantage. We have an equal opportunity in export and domestic market. Since China is dipping in some areas, it is good for India and we should capitalise on it.”
India needs to boost its exports and domestic markets, he feels. “China is giving us space and we should utilise it. We are the second largest in the world after China in textiles. Indeed Bangladesh and neighbouring countries are growing well in garmenting sector but as far as textiles are concerned, we have the potential to be a global leader,” Deshmukh sums up.