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Articles: Stock Market | Raymond
- Prof. 00782 Maverick
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Textile outlook promises potential growth near-term
Indian textile industry is the largest and most important sector in the economy in terns of output, foreign exchange and employment in India. The textile sector also has a direct link with the rural economy and performance of major fibre crops and crafts such as cotton, wool, silk, handicrafts and handlooms, which employ millions of farmers and crafts persons in rural and semi-urban areas. Industry has strong raw material base, skilled manpower and low wage costs; this pushed industry has huge potential in the globalised textile economy.
Indian textile industry is all around Rs.90000 cr. The organised market is around 40% . The organised sector represents the Spinning and composite mills which are involved in spinning, weaving and processing activities under on roof. The unorganised sector is mainly engaged in weaving . This makes them heavily dependent on the organised sector for other process requirements. Indian textile industry is supported by well established supporting industries and institutions that provide inputs and expertise to the industry in terms of design, technology engineering and machinery. Demands for Branded apparel wears is growing rapidly. There is a growing tendency towards the branded clothing segment in India which is positive for Apparel players. Even here in textile industry its more over played by the unorganised players who are able to offer clothing?s and apparels at a lower price and make there presence in the market.
The industry is undergoing revolution, determined by a few key trends. While structure is largely of small scale unorganised player and after the removal of quotas that led to the growth of vertically integrated large-scale units as well. India thus has the potential to be a significant player not only in customised designs, but also in low cost, Mass production. Mass customisation may well be a key success factor for the companies in future. The government is proactively addressing an urgent need to eliminate the duplication in the tax on sales; free movement of goods within states will result in better retail sales.
The increase in textile demand globally and fashion trend into the fashion driven market, market has also been in favour of Raymond. Risk factor only leads at the changing fashion trends. We believe that Raymond will perform on premium segment by integrated branding in the domestic market.
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