Positivity is very much required in this pandemic phase and it was pouring at the recently concluded Sowtex Network’s Online Textile Conclave. Various speakers shared positive aspects reading market and future directions.
The panellists were from all segments of the industry, which included the likes of Sanjay Kumar Jain, TT Ltd; Harminder Sahni, Founder and MD, Wazir Advisors; Dr. Rajesh Bheda, MD, Rajesh Bheda Consulting; Habibur Rahman, Smart Factory 4.0 Consultant; Gopinath Rao, Deputy Director, Ministry of MSME and Sunil Malhotra, Senior Financial Consultant. The event was well moderated by Sonil Jain, Founder of Sowtex Network.
Apparel Resources was the media partner of the event.
Sanjay Jain highlighted that things have started moving now in domestic market and value products will sale more in future. Industry should prepare itself for winter production and focus on polyester-base.
He also urged to focus on issues like grabbing China share, improving quality, developing a new working mindset and hard work.
Sanjay, who is a leading manufacturer of undergarments, also shared that innerwear industry will not decrease the price at all and urged that no one in apparel industry should go for discounts.
Harminder was very much positive about future as he highlighted that due to the fear of health and allied issues there will be more consumption of textile products irrespective of whichever way it is done and whatever is the product.
“Volume and value will increase but we have to focus on functionality of products. Treat pandemic just as a long holiday and survive for the next 6-9 months. The thing will be on track as usual,” he said and added that industry should treat the inventory as assets and not as a liability as no new goods will be supplied immediately. “SMEs should not bother what giants are saying or doing, just add value in your offering and improve yourself as it only requires intention,” he insisted.
The event also focused on technical and HR aspects of manufacturing facilities as Dr. Rajesh Bheda insisted that it is time to prepare and improve wherever you are still missing. He said that the role of management is currently more crucial to assure their staff that there is light at the end of tunnel. “Now, one must have to understand pain points of customer and improve on the same under any condition,” he added.
Habibur Rahman insisted that industry required to rework on proper planning and limitless capacity planning irrespective of products. Industry should focus on start date, and not delivery date. “One has to ensure that irrespective of all challenges, if the production of factories can flow continuously for 26 days, it will help a lot to grow,” he said and further added that everyone has to reduce dependency on one country be it import of fabrics, trims or export of RMG.
Urging industry to use Government schemes, Gopinath Rao was also of the view that apparel manufacturers should focus more on quality. He also said that RMG industry should not work in isolation.
Assuring about enough liquidity in market, Sunil shared that units should have strong estimate of their cash flow requirement for next 3 months and contingency plan is also must. Banks are supporting textile and garment industry as they do know that it has been less impacted compared to other industries and do have scope to grow in future.