MA­JOR CHAL­LENGES

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Speak­ing about the op­por­tu­ni­ties and chal­lenges in the ap­parel sec­tor in com­ing times, Siva said, “China is a giant in ap­parel ex­ports, but I see stag­na­tion which is an op­por­tu­nity for In­dia.” He firmly be­lieves that in order to be a win­ner in long- term, it is crit­i­cal to com­pete in the right space, where we have lever­age. For ex­am­ple, it is tough to com­pete with Bangladesh in Euro­pean mar­kets as they have duty ad­van­tage. So we have to look at other prod­ucts and busi­ness seg­ments where we are not com­pet­ing with them. “We have an edge in fash­ion as we have good source of cot­ton and vis­cose and we can de­liver in shorter lead times,” he added.

At that end of day, ex­port is a sec­tor which can help In­dia to achieve a con­sis­tently high GDP. “Look at China. They have grown by over 10% per an­num for more than a decade and now they are more like a de­vel­oped coun­try. This can­not come from do­mes­tic busi­ness only. There­fore, we have to fo­cus on ex­port ori­ented sec­tors like IT, tex­tiles and oth­ers,” he said. “It is wise to sup­port this in­dus­try as for every Rs 1 cr spent,70 new jobs can be cre­ated,” he pointed out.

Siva ex­pects that the com­pany will achieve nom­i­nal growth of around 10 to 15% in next year and will be look­ing at all pos­si­ble av­enues to ex­pand.

“The in­dus­try will dou­ble ex­ports and achieve goals much faster than ex­pected if all things fall in line,” he con­cluded

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