Interview With : Dilip Ghorawat, whole-time director and CFO of Sutlej Textiles
Updated on: 23 Jun 2016
The slowdown in the Indian economy in last two years has affected the textiles industry. However, Sutlej Textiles saw a stable, sustainable growth despite the challenging macro-environmental factors. Dilip Ghorawat, whole-time director and CFO of Sutlej Textiles shares industry insights and the company's growth plan with Fibre2Fashion.com
What has been the growth rate in the yarns and home textiles sectors?
There is no specific break-up for the yarns sector. The break-up is into textiles and apparel. The domestic textiles and apparel industry is expected to reach approximately $100 billion by 2017 and $141 billion by 2021, up from $67 billion in 2014. The total cloth production in India is expected to grow to $112 billion sq metres by FY17 from $64.3 billion sq metres in FY15. For yarns per se, the exact numbers are not there. In case of the home textiles sector, the global home textiles industry is valued at $45 billion, out of which India's share is 11 per cent. The Indian home textiles industry is expected to grow at a CAGR of 8.3 per cent from $4.7 billion in 2014 to $8.2 billion in 2021.
Please share some export figures from India on yarns and home textiles.
As I said, yarns' figure as such is difficult. But I can only say that the Indian textiles industry contributes approximately 5 per cent to India's GDP and 14 per cent to industrial production in the country. The textiles industry is the largest contributor to India's exports. And it is approximately 11 per cent of the total Indian exports. The industry's export earnings were $40 billion in 2014-15. It is currently estimated to be around $108 billion, and it is expected to reach $223 billion by 2021.
What macro-economic factors affected the global textiles industry and its growth last fiscal?