A key finding of the study is the adverse impact of the existing 11% cotton import duty, which the report states has placed Indian textile manufacturers at a disadvantage compared to competing Asian markets that enjoy duty-free access to international cotton.
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The acquisition aims to accelerate its global supply chain, expand partnerships and improve resilience amid changing global trade conditions.
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The textile industry largely relies on LPG for processes such as dyeing, finishing and steam generation but the latest price has increased per-unit costs, further impacting already thin margins.
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The government has set a target of producing 498 lakh bales of cotton, each weighing 170 kg by 2030–31, while increasing lint productivity from 440 kg per hectare to 755 kg per hectare. Approximately 32 lakh farmers will be benefitted, leading to self-reliance.
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SPA has also expanded its industry footprint through participation in six trade shows, including two international exhibitions, reinforcing its growing global presence and outreach.
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With this appointment the textile manufacturer aims to focus on strategic alignment and execution, scaling value added businesses, and strengthening global presence.
