Where does India stand globally in spinning, processing and apparel production?
Globally, we are still among the cheapest yarn producers. However, the profitability has eroded because of the rupee appreciation. The weaving sector depends on the offtake of the export sector. Our export of fabric is poor. Processing houses are also hit as part of the link. Under the Technology Upgradation Fund Scheme, during 2006-07, Rs 15,000 crore was drawn and used by the firms. But in 2007-08, against an allocation of Rs 21,000 crore, only 50 per cent has been utilised. However, one good thing is that the domestic industry is holding. It has come as a relief at a crucial time. What is the current momentum in Gokaldas? Our expansions earlier were at a faster pace, though we have not brought them to zero. Our Hyderabad plant will open in April; we plan to move into smaller cities. We may close two Bangalore factories and take them outside the city. After we regain some stability in terms of bottomline, we may grow aggressively again. We will slightly cross last year’s turnover, bu
