Major Indian Manufacturers
Autor: saffhh • August 2, 2015 • Presentation or Speech • 700 Words (3 Pages) • 1,025 Views
Jacguard Tape spun Narrow Fabric- Export market::
Major Indian manufacturers:
- Shivam Narrow Fabrics
- Arrow
- Premco Global
- Spica Global
- Bala techno industries
The market of Sunrise Colors’ elastic tapes is dependent on the growth of innerwear garments sector. According to a research conducted by Technopac Advisors, the Indian innerwear market is worth Rs. 17,750 crore (2013) and is estimated to grow at 13 percent to reach Rs. 59,540 crone by 2023. Elastic tape market constitutes around 5-10% of this value. Till early 2000 the Indian innerwear market was characterized by a presence of lot of sellers in unorganized sector but lately with the changing demographic, higher disposable income, changing fashion trends, rising aspirations, new retail formats has lead to considerable growth in organized retail market. The rise of organized retail market has increased the perceived value of innerwear garments and subsequently has increased the margins across the value chain of innerwear garments which includes elastic tapes manufacturer. Currently approximately 50% of market is occupied by unorganized sector. This will decline in the near future as people become more brand and quality conscious. There will also be growth in premium segment which will give better margins to innerwear industry players.
Globally, Vietnam has become center for textile manufacturing catering to the demand of western countries. The boost in Vietnam textile industry is due to its proximity to China and Western countries. Vietnam is a signatory to the Trans-Pacific Partnership agreement (TPP).TPP is a proposed regional regulatory and investment treaty. As of 2014, twelve countries throughout the Asia Pacific region have participated in negotiations on the TPP: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam. Vietnam cheap labor force has lead to shifting of major Western garment manufacturers such as Hanes, GAP to shift their plant to Vietnam. Vietnam is now the textile capital of world with majors like Hanes, GAP and others putting up factories there. The elastic tapes requirement for innerwear is fulfilled through imports from China, India etc. Lately some of the manufacturers are setting up the manufacturers are setting up the facilities for Elastic tape in Vietnam itself due to some US govt regulations regarding product quality issues. A leading Indian manufacturer of Elastic tapes, Premco Global is setting up a plant there for manufacturing 600 lac metre. Presently from shipment records, 85% of Elastic Narrow Fabric is shipped to Vietnam, Sri Lanka and Bangladesh. Vietnam constitutes 62% by Value and 64% by Value of all Elastic Narrow Fabric Export from India.
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