Exclusive Q&A With : Pranav Sachdeva, Director of Mercury Fabrics
Updated on: 29 Jun 2016
Mercury Fabrics has been producing quality knit fabrics since 2003. In conversation with Fibre2Fashion.com, Pranav Sachdeva, director, Mercury Fabrics, talks about fabric blends trending in the export markets, latest innovations in this field, and the recent expansion into printing.
How do you see the Indian knitting industry faring in the next three to five years?
The Indian knitting industry, like the textile industry, is completely based on demand. Buyers look towards India for cost effective products and quality that can be easily manufactured, yet does not require a great deal of technical knowledge. This is primarily due to the stereotype that comes with the image of the country. Things are changing as India establishes an image of a technically sound country that can execute what other intellectual powers of the world may be able to. The perspective of buyers is also changing, making them more receptive to a slightly higher charge for innovations from this part of the world. It is not that India does not have the capabilities of executing such quality but that this quality costs significantly more, which in turn disappoints buyers who expect only low cost products from India. Focus on cost is important and profit margins in the industry are shrinking fast. Cost of production is increasing due to high inflation. According to guidelines issued by the Central Pollution Control Board, a lot of industries including the dyeing industry will soon have to implement zero liquid discharge for which capital investment is so huge that it would cripple companies that do not displace so much weight in the market. When it comes to unconventional qualities, the Indian textile industry and especially the knitting industry will be able to do more. But will buyers be willing to consider India for more atypical products at a premium? So it will be safe to conclude that the future will be a test of the survival of the fittest.
What is your annual export of knitted fabrics? Which regions do you export to?