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Corporate
Q. How is the export scenario looking for the company?
Our exports have been growing both in terms of quantity and value.
In our efforts to increase new markets we have been exploring
the Middle East, Latin America and the Far East. Our efforts in
this direction have been recognized and we have been the proud
recipients of the SRTEPC awards over the years. We have been successful
in developing customers manufacturing well established global
brands.
Q. How has the company been performing post de-merger?
IRTL has been on a consistent growth track ever since its conception
as a separate company. It has rightly proved our convictions of
improved, quality products, enhanced services and profits.
Q. What are the challenges being faced for the same?
There are many challenges being faced by the textile industry
today. The duty structure for the finished goods in the industry
has to be rationalized and we have to gear up to reap the benefits
in a quota free world. The raw material prices have been very
volatile led by high crude oil prices. The firming up of the rupee
against the dollar has also affected the export margins. We should
amend our policies that would go a long way in improving our competencies
and avoid possible dumping by China and other South Asian countries.
Also, a membership with trade blocks like the ASEAN would help
access regional markets better.
Products/services
Q. How is the domestic market looking for Indo Rama?
The domestic market has been on a growth swing for us. We have
expanded our focus in the home furnishing, carpets and technical
textiles segments. We have successfully developed and launched
new products such as micro fibre yarns and moisture management
yarns.
Q. How is the export scenario looking for the company?
Indo Rama Textiles Limited enjoys a strong brand value in the
international markets. We export to more than 60 countries including
Europe and Africa and are in the process of identifying and exploring
new markets in Latin America, Argentina, Columbia and Venezuela.
The share of exports in its revenue basket is to the tune of Rs.
4,976 million. Post January 2005, the export market will only
expand as India becomes the preferred outsourcing destination.
Being a leading player in the industry we intend to utilize the
opportunities and further our prospects.
Q. What are the new markets Indo Rama is looking at?
Indo Rama Textiles Limited is seeking to explore the world markets
particularly the US and EU post the phasing out of the MFA. We
export to more than 60 countries including Europe and Africa and
are in the process of identifying and exploring further new markets
in Latin America, Argentina, Columbia and Venezuela.
Industry
Q. How is India placed post WTO scenario?
India will be the second largest gainer in the post WTO scenario.
The demand for Indian Products is expected to shoot up as new
markets open for us. The quality and cost effectiveness of our
products will ensure that we stay the preferred outsourcing destination.
Q. What are the challenges faced by the Indian textile
Industry?
There are many challenges being faced by the textile industry
today. The duty structure for the finished goods in the industry
has to be rationalized and we have to be geared to reap the benefits
in a quota free world. The raw material prices have been very
volatile led by high crude oil prices. The firming up of the rupee
against the dollar has also affected the export margins. We should
amend our policies in order to avoid possible dumping by China
and other South Asian countries. Also, membership to trade blocks
like the ASEAN would help access regional markets better.
Q. Is China posing to be a threat post WTO?
China will be the biggest gainer in the quota free world. Earlier
too, they enhanced their capacities for the products on which
quotas were being removed. They are indeed placed very well. However,
they are not a threat exactly as the demand worldwide for our
products will also increase sharply. In fact, we will be the second
largest gainer. All we need to do is to put our house in order
so as to harness the available opportunities.
Q. Where do you see the Indian Textile industry by 2010?
India has never seen so robust a feel good factor. The economy
is in the pink of health with record stock of food grain, the
stock market is booming, inflation rates going up 4 to 5 %. The
textile industry is going to be buoyant in the country during
the next five years.
Q. How is the polyester business shaping up currently,
both globally and on the domestic front?
Polyester has a bright future both domestically and internationally.
Due to its high utility, durability and cost effectiveness, polyester
is fast becoming a preferred choice in fabrics. The production
of blended yarns has been growing at the rate of 9%
Q. What sort of growth do you foresee in the near future?
What strategy should an Indian textile player adopt to successfully
position itself in the long run?
The next few years will see a changeover from cotton to polyester
in a more meaningful manner. To reap the benefits of the emerging
situation, we need to build on our competencies to ensure high
quality at competitive prices.
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