KK Lalpuria, Executive Director & CEO at Indo Count Industries Limited, in an interaction with Industry Outlook, shares his insights on present state and future opportunities for the Indian textile industry. During the conversation he also discusses the issues pertaining to sustainability, lead time, automation and more.
The domestic textile industry in India contributes 5% to the country’s GDP, 7% of industry output in value terms, and 12% of the country’s export earnings. How is the textile industry of India developing?
Textile has been a core industry of India, with the market expected to be worth more than US$ 209 billion by 2029. Looking at the global scenario, there are five countries — Bangladesh, China, India, Pakistan and Vietnam, that dominate the global textile market. However, with Bangladesh and Vietnam lacking the domestic production of raw material and the global companies looking forward to instituting the China plus one strategy. The overall scenario holds great potential for the Indian textile industry to evolve as a global leader.
Moreover, along with the established spinning and weaving base, India has now remarkably expanded the domestic production of raw materials, such as cotton. Furthermore, the huge domestic consumer base of India, has helped the industry to constantly evolve in terms of quality.
Today, the government is also bringing in multiple schemes that are expected to give the industry additional impetus. With all the factors working in tandem, the Indian textile industry will further its share in the global market.
Unlike in developed countries, textile factories in India are not fully automated and remain labour-intensive. How do you see the industry developing in terms of technology adoption?
The Indian textile industry is now massively investing in automation and digitization that it deems necessary to improve productivity and competitiveness. Hence, starting with spinning, weaving, dyeing and finishing, we see advanced, state-of-the-art machinery already being deployed to increase operational efficiency. Today, machineries like laser-cutting machines, Eaton systems, automatic packaging and folding systems, conveyor belts, etc are increasingly deployed by the manufacturers.
That being said, the textile industry needs to harness the potential of the IT industry of India, and move towards data driven operations. Applications like ERP’s needs to be implemented at a larger form to optimise the operations and take faster decisions.
From the manufacturing perspective, the cotton sewing process has been a pain point with a dearth of automation. Hence, in order to improve the operational efficiency the industry needs to take first pace action and introduce novel technologies.