Many yarn and fabric companies across India are happy as their business is comparatively better than last year, with the industry expecting more positivity, in the coming times. Some of them are expanding their capacities, going for forward integration and adding new product offerings.
Along with export or supplying to the exporters mainly, now these companies are more focused on domestic brands for increasing their customer base. Interestingly, many players believe that the ongoing tussle between US and China can bring more business to India which will be a huge benefit for them.
All this and much more was observed by Team Apparel Resources during the recently concluded 7th edition of Tex-India and 13th edition of Yarnex Tirupur, organised by SS Textile Media. Most of the exhibitors were happy with the fair as it witnessed good visitation from the apparel industry.
Kumaragiri Spinners, Erode; Eveready Spinning Mills, Tirupur; Sanathan Textiles, Mumbai; Trident Group, Ludhiana; and Alok Industries, Mumbai are few names which are investing for further expansion or are moving forward in different directions. The good thing is that focus is not only on growth but also on product development and sustainability.
“This year proved good and I feel that next year shall be better than the current year. Some policy changes in India and the ongoing development between US and China are the reasons behind my hope,” said N. Karthi, VP (Global Marketing), Kumaragiri Spinners, Erode.
He further pointed that due to issues between US and China, if 3 per cent extra business comes to India, the country will not be able to complete even the supply for the same. So far Kumaragiri Spinners was mainly into yarns but last year it added fabric also to its portfolio. Supplying its products to famous global brands, the company is further expanding across weaving and knitting as its new unit is expected to start working by July 2019. In total, 50 knitting machines shall be installed in two phases. “In the next few years, recycled products and sustainable approach will be having the upper hand. MMF will be more in demand, so we are also active in the same direction,” he emphasised.
Working with clients like Raymond, Grasim, Siyarams, D- Decor and many more, Sanathan Textiles, Mumbai currently has 70,000 spindles and plans to further install 80,000 spindles by March next year. The company recently added capacity of 20 tonnes for IDY (industrial yarns). Raj Kapadia, President-Sales and Business Development shared, “Now growth is there in the market and it depends on the company how it wants to grow. We are continuously adding our product offering and are also looking at how we can be more sustainable, as we are mainly into polyester which is not very eco-friendly.” The company offers fancy yarns and produces 600 matrix tonnes of polyester yarns per day. DDY, FDY and cotton finest yarns are also some of its interesting offerings.
For more detailed coverage on the same, please see the upcoming issue of Apparel Online India Magazine