Indian towel manufacturers are investing to augment their capacities after witnessing an elevated demand from the overseas as well as the domestic markets.
The country currently occupies the topmost position in towel exports to the US, the largest market for terry towels. Three major players from the segment confirmed their plans to Apparel Resources.
Shri Lakshmi Cotsyn Limited, Kanpur (Uttar Pradesh) is investing in printing as its strength lies in ‘printed towels’. Its current capacity stands at 1,000 metric tonnes per month in towel manufacturing.
The company is reportedly the biggest supplier to Walmart in this segment. It exported printed towels worth US $ 25 million to the retail giant in 2016 compared to US $ 2 million in 2014.
Another towel manufacturer, Marda Impex, Solapur (Maharashtra) also has its expansion plans in place.
Sagar Marda, Director of the company told us, “We are planning to invest more than Rs. 10 crores in air jet looms and allied processes. Our focus will be on the advanced technology in weaving and processing operations. However, it will take some time for us to finalise things.”
The BSCI-certified company manufacturer has a current capacity of six tonnes per day and an annual turnover of US $ 7 million (10 to 15 per cent yearly growth). It primarily deals in basic towels and witnesses.
Golden Terry Towel, from the home furnishing manufacturing hub of Panipat (Haryana), is also considering to add 12 looms to its existing 96 looms and start digital printing.
The towel manufacturer records an average yearly growth of 20 to 25 per cent in exports to its global customers, asserted Ravinder Gautam, Export Manager of the company.
